Re: Peter Hood says Bulls on brink of going bust. : Wed Mar 28, 2012 11:34 am  

-Tracie- wrote:

HOWEVER, from the outside looking in somethings not right, how can Hood have 'not known' the overdraft was secured on odsal?

He's an appalling businessman, thats why this club are so close to the wall.

-Tracie- wrote:

The only way forward I can see is administration and rebuild like London and Crusaders; granted you'll loose a few players but it seems the only way to secure the longevity of the club.

No-no. Administration is unthinkable whilst the RL world is pulling together like this. If you believe the line the club is towing (pah!), this £1m needed will make the club debt-free.

Re: Peter Hood says Bulls on brink of going bust. : Wed Mar 28, 2012 11:36 am  

AaronBull wrote:

There are murmurs, but albeit just murmurs at this stage, that Parkin may be sniffing.

his name comes up over and over again with many clubs

[Kosh]

Re: Peter Hood says Bulls on brink of going bust. : Wed Mar 28, 2012 11:37 am  

AaronBull wrote:

If you believe the line the club is towing (pah!), this £1m needed will make the club debt-free.

What they haven't said, however, is how long you'd be debt free for.

Hull FC were once declared 'debt free' shortly after our merger with Gateshead. A few short years later we had debts >£2M. If your outgoings exceed your income you aren't going to be debt free for very long.

Re: Peter Hood says Bulls on brink of going bust. : Wed Mar 28, 2012 11:38 am  

Well, he was interested before, and the club are a far less attractive proposition than they are now.

And re: Kosh, yeah I understand that. Duckett was keen on hammering home last night however, that the club have a business plan to make the club work going forward.

Re: Peter Hood says Bulls on brink of going bust. : Wed Mar 28, 2012 11:39 am  

I cannot help but feel so sorry for the situation you Bulls fans find yourselves in. Equally, I know I would be absolutely furious if this were Warrington, with the BoD for essentially coming cap in hand, with half-arsed explanations and no real carrot other than helping keeping the club you love afloat. Pretty big carrot some may argue, but a carrot you should not have to buy if jobs had been done competently at the appropriate levels.

A decent offer, though still nowhere near sufficient, would be for Hood to offer his resignation if/when the money target is met, or at the very least a timeframe to him leaving afterwards.

I would also want to know exactly what contribution the existing shareholders are being asked to make to get you out of this mess. You may not have a wealthy benefactor but surely these guys do not live "on the bread line" which the fans will be.
100% transparancy is required here and you are only at about 10% right now.

It's a crying shame, and frankly unbelievable to witness just how far and alarmingly quickly BBRLFC have gotten to this stage.

Good Luck, although I fear administration is iminent, regardless of whatever effort you, the fans, will make over the coming week(s). I also believe, as an outsider, that this is the only real viable option for you unless some wealthy individual steps in now and clears the mess permanently, not just short term.

[Kosh]

Re: Peter Hood says Bulls on brink of going bust. : Wed Mar 28, 2012 11:41 am  

AaronBull wrote:

And re: Kosh, yeah I understand that. Duckett was keen on hammering home last night however, that the club have a business plan to make the club work going forward.

There's a first time for everything I guess.

I hope he's right. The people stepping forward to save your club deserve no less.

Re: Peter Hood says Bulls on brink of going bust. : Wed Mar 28, 2012 12:05 pm  

AaronBull wrote:

Well, he was interested before, and the club are a far less attractive proposition than they are now.

And re: Kosh, yeah I understand that. Duckett was keen on hammering home last night however, that the club have a business plan to make the club work going forward.

What's in the business plan? How long ago did he write to 1000 wealthy people asking them to 'invest' in the club without any indication what they might recieve in return? By their own admission they have dwindling revenue. Therefore the business plan can only be redundancies and asset sales.

It's not a business plan, it's a suicide note!

Re: Peter Hood says Bulls on brink of going bust. : Wed Mar 28, 2012 12:06 pm  

AaronBull wrote:

Indeed, they have a gun to our head in essence, but we cannot let our club die.

I think the point I was making was, the ONLY thing that matters right now is saving the club.

Indeed, but that doesn't necessarily mean that "The Pledge" is the way to do it.

Re: Peter Hood says Bulls on brink of going bust. : Wed Mar 28, 2012 12:37 pm  

Kosh wrote:

What they haven't said, however, is how long you'd be debt free for.

Hull FC were once declared 'debt free' shortly after our merger with Gateshead. A few short years later we had debts >£2M. If your outgoings exceed your income you aren't going to be debt free for very long.

exactly - "debt free" could mean that once they get the £1m in, they have £30 in the bank. As soon as the money is in to clear those debts, new debts will start to mount up.

Re: Peter Hood says Bulls on brink of going bust. : Wed Mar 28, 2012 12:42 pm  

GET EM ON SIDE REF wrote:

his name comes up over and over again with many clubs

And not once has he been able to sort something out... hmm.