Re: Peter Hood says Bulls on brink of going bust. : Thu Mar 29, 2012 2:23 pm  

Highlander wrote:

I don't actually know about maintenance. I just assumed we would either be paying rent, or maintenance , but not both. Although we do still own the Coral stand I think.

I was told two different and conflicting stories at the forum regarding the maintenance. I was sort of given the impression that Bulls commission it, but payment is rolled in with the lease. But after recent events I'm not sure what the hell the tale is.

Yes we still own the Coral stand. Just not the land it sits on...

Re: Peter Hood says Bulls on brink of going bust. : Thu Mar 29, 2012 2:23 pm  

Hey guys and Gals, it Thursday, and dont let Peter Hood fool you into thinking its Friday and Almost the weekend!!!! He will try!

[Bullseye]

Re: Peter Hood says Bulls on brink of going bust. : Thu Mar 29, 2012 2:28 pm  

It's all very confusing. Makes you wonder if they really know what they're doing. Could explain the mixed messages on the ground. Maybe some people get caught up so much in how they think things may be interpreted that they confuse what they're saying.

On the issue of who pays for the upkeep of Odsal now it's as clear as mud.

Re: Peter Hood says Bulls on brink of going bust. : Thu Mar 29, 2012 2:28 pm  

According to the Bradford Bulls Twitter page we have reached £155k.

[Bulliac]

Re: Peter Hood says Bulls on brink of going bust. : Thu Mar 29, 2012 2:30 pm  

Bullseye wrote:

That's the £1m question!

Btw, do the RFL pay for the stadium upkeep? I thought it was still down to the club. That used to be a reason given at forums as to why we were skint until the last forum where it was said it was never a problem.

I find it hard to keep up.

My recollection from the forum was that "nothing had changed in that regard" and the club had the same responsibility as before.

Re: Peter Hood says Bulls on brink of going bust. : Thu Mar 29, 2012 2:31 pm  

M@islebugs spoke of smoke and mirrors and I would just like to add that the whole franchise process (Crusaders and us are a fair slice of the teams assessed) shows that the smoke and mirrors principle applied very much to the clubs' disclosed financial statements and business plans. the people reading and assessing them must know that you can make a balance sheet etc look like just about anything you want to, and apparently did not have enough information in our particular case, unless a £700K debt that you can't pay is the sort of thing that should be invisible. And clearly we couldn't pay it. All that has changed is seemingly (and we are all having to guess) the bank reduced the overdraft facility so we unexpectedly had less borrowed money available to pay day to day debts.

Having got seemingly the all clear, at least Crusaders had the decency not to apply, but one question is, is the financial test allegedly central to the application process actually worth a flying fart?

[Bullseye]

Re: Peter Hood says Bulls on brink of going bust. : Thu Mar 29, 2012 2:34 pm  

Bulliac wrote:

My recollection from the forum was that "nothing had changed in that regard" and the club had the same responsibility as before.

Same here. And on hearing that I thought we were still stuck with a financial millstone. It was likened in the past by Mr Hood to owning a big old house in that repairs were expensive and tricky. This time he pretty much contradicted the line that Odsal was costly to run.

I don't know why the line changed.

Re: Peter Hood says Bulls on brink of going bust. : Thu Mar 29, 2012 2:36 pm  

So we are paying both the same levels of maintenance as we were doing but also now have ?quarterly lease payments on top of that. How exactly does that decrease our outgoings?

[Bulliac]

Re: Peter Hood says Bulls on brink of going bust. : Thu Mar 29, 2012 2:38 pm  

Ferocious Aardvark wrote:

Having got seemingly the all clear, at least Crusaders had the decency not to apply, but one question is, is the financial test allegedly central to the application process actually worth a flying fart?

Dunno FA, and whilst I'm sure it's pretty important..well, of course it is, but right now I don't actually give a flying fart.

Re: Peter Hood says Bulls on brink of going bust. : Thu Mar 29, 2012 2:39 pm  

Ferocious Aardvark wrote:

...but one question is, is the financial test allegedly central to the application process actually worth a flying fart?

You stupid boy...