Re: Peter Hood says Bulls on brink of going bust. : Tue Mar 27, 2012 7:36 am  

They surely can't expect people to pay without giving more details, will people pay without knowing how their money would be used and it guarantees the long term future.

Re: Peter Hood says Bulls on brink of going bust. : Tue Mar 27, 2012 7:36 am  

What a mess.

Re: Peter Hood says Bulls on brink of going bust. : Tue Mar 27, 2012 7:38 am  

Shocking news, don't think it's fair to ask fans to pay as many have their own problems. Hope you come through it, SL needs Bradford.

Hope the derby sells out and you can attract some more sponsorship.

Re: Peter Hood says Bulls on brink of going bust. : Tue Mar 27, 2012 7:39 am  

Blotto wrote:

If Whinos pay back the Harris money that would help

And why on earth would we do that? Your previous board members should've behaved themselves. You reap what you sow my friend.

Re: Peter Hood says Bulls on brink of going bust. : Tue Mar 27, 2012 7:40 am  

Not news I expected to wake up to. To say it came out of the blue is a massive understatement.

I've been telling people for years how perilous the financial situation clearly was. It was patently obvious from the accounts. Anyone still disbelieving?

But - like many others no doubt - I'd assumed that the sale of the Odsal lease had alleviated at least the short-term financial crisis. So where the hell has this come from?? Unless retrospective tax bills

We now learn that the Odsal sale was seemingly because the club had borrowed from the RFL (it was obvious it must have, since they registered a charge in favour of the RFL well over a year ago) and could not repay them, so they took the stadium in lieu of repayment. I've heard nothing other than what I have read in the paper this morning,

Once again, looks like we have been made to look fools, and the chief emotion I feel right now is anger. But I'll keep most of my powder dry for now in the hope that I can find out some more somehow.

This cannot have just come out of the blue. I am afraid what I have read does not stack up. Frankly, I do not believe it.

Donations? They should have been going for a share issue. If they want supporters to chuck a shedload of money in, they need to surrender a sizeable share of the ownership. As I feel right now, thats what it will take for me to put any money in.

Is Caisley waiting in the wings to buy the assets off an administrator?

Far far too busy at work right now to give this the attention it needs. And far too angry to want to write much more just now.

Re: Peter Hood says Bulls on brink of going bust. : Tue Mar 27, 2012 7:41 am  

If they have run out of cash that suggests they were living off the overdraft. It's not something I'd do as a household.

Re: Peter Hood says Bulls on brink of going bust. : Tue Mar 27, 2012 7:45 am  

With the stadium gone there are no assets to sell other than players.

But now that this has been announced, who will buy when players will go for free in a few weeks?

Offloading players for free will not help either, it will reduce commitments but the players don't need 500k in a month, that would mean their wages for the year would be 6 million. So the money is needed for running costs and debt reduction.

Re: Peter Hood says Bulls on brink of going bust. : Tue Mar 27, 2012 7:47 am  

Administration wouldn't help would it? This is a cashflow issue rather than debts that we can't clear. The only way around it is to minimise outgoings, our most substantial of which will no doubt be wages and Odsal upkeep.

Doesn't look like there's a viable alternative to Odsal, so all I can see happening is the Crusaders route. Everyone's contract becomes void, the RFL issue another dispensation for our o/s players and the vultures begin to circle. If we're lucky we still have enough left to scrape together a team for the lower leagues.

Re: Peter Hood says Bulls on brink of going bust. : Tue Mar 27, 2012 7:49 am  

Someone is in cloud cuckoo land if they think fans can raise £1m between them.

It needs to be made clear what the money is for, and what raising it will achieve, the fundraising needs to be co-ordinated by someone outside of the club (i.e. a supporters trust) and kept hold of so it just doesn't disappear down a black hole if the overall target is not met and therefore the money raised can then be used to support a newly reincarnated club.

Re: Peter Hood says Bulls on brink of going bust. : Tue Mar 27, 2012 7:49 am  

Asim wrote:

Someone is in cloud cuckoo land if they think fans can raise £1m between them.

It needs to be made clear what the money is for, and what raising it will achieve, the fundraising needs to be co-ordinated by someone outside of the club (i.e. a supporters trust) and kept hold of so it just doesn't disappear down a black hole if the overall target is not met and therefore the money raised can then be used to support a newly reincarnated club.

This.