[Bullseye]

Bulls must repay RFL loan : Thu Sep 01, 2022 5:40 pm  

https://www.examinerlive.co.uk/sport/ru ... t-24909048 Andrew Chalmers - the gift that keeps on giving.

https://www.examinerlive.co.uk/sport/ru ... t-24909048 Andrew Chalmers - the gift that keeps on giving.

Re: Bulls must repay RFL loan : Thu Sep 01, 2022 6:11 pm  

Bullseye wrote:

https://www.examinerlive.co.uk/sport/rugby-league/bradford-bulls-central-funding-hit-24909048

Andrew Chalmers - the gift that keeps on giving.

As approved by Nigel Wood

Re: Bulls must repay RFL loan : Thu Sep 01, 2022 7:04 pm  

Another secret loan.. that'll go down well in RL circles!! The club must be budgeting for much lower crowds next year, with this on top we are surely placed amongst the lower end of squad spenders in the league.

Next year ain't looking great.

Re: Bulls must repay RFL loan : Thu Sep 01, 2022 7:16 pm  

I assume Nigel knew this was coming as he was in charge at the time of the loan. If this was in the terms of the loan there is no argument, it has to be repaid. Just let's not hear anymore other clubs supporters saying we are favourites and have received preferential treatment.

Re: Bulls must repay RFL loan : Thu Sep 01, 2022 7:21 pm  

It's OK though we have applied for £20m levelling up funding for a 30k seat stadium.

Re: Bulls must repay RFL loan : Thu Sep 01, 2022 8:27 pm  

Maybe they can make up the deficit on the playing budget by cutting down on other things. Things like:

1. Employing the cheapest option manager.

2. Cutting down on players' pies.

3. Stopping paying in the players' pension payments.

Oh, hang on...

[Bullseye]

Re: Bulls must repay RFL loan : Thu Sep 01, 2022 9:14 pm  

Relegation battle next year.

Re: Bulls must repay RFL loan : Thu Sep 01, 2022 9:52 pm  

So subsequent to liquidation, the RFL approved the takeover of the club to two men, one of whom never actually turned up, and another who couldn't muster the requisite guarantee to open a bank account. All the while people close to the club and around the RFL said it was merely a front for NW. And it now emerges 5 years later that the RFL provided them with an unspecified loan, which needed to be repaid at some point in the future.

It's almost unbelievable.

Re: Bulls must repay RFL loan : Thu Sep 01, 2022 10:59 pm  

All both very sad and utterly reprehensible. Administrator III's preferred bidder (if Bongser recalls correctly (IBRC)) was blocked by the RFL (under Nigel Wood) forcing liquidation and the resulting stigma.

Then the RFL (under Nigel Wood)'s preferred candidates were ushered in. Lowe didn't seem to last very long and now it emerges that a face-saving loan was agreed and is now another millstone around The Bulls' collective neck.

Again IBRC, Wood was paying himself just shy of one third of a MILLION pounds per annum at the time!

Yes, Bullseye (good evening, hope you are well), Bongser will attempt to be careful!

Whatever happened in those dealings, no one could argue that there was not, at best, gross incompetence and, as the Mouth of Sauron, there is blood on Rimmer's hands too.

Re: Bulls must repay RFL loan : Fri Sep 02, 2022 6:54 am  

Nigel Wood has been involved since day 1. However forget that fact it's unbelievable that the RFL turned Thorn & Lamb & Irvine away to choose Chalmers and Lowe a consortium that was vetted financially sound and the best choice going forward for the club. That financially sound they didn't actually have any money ti buy it or run it. That in itself is totally incomprehensible. Since admin 1 there has been nobody to blame for the bulls death of a thousand cuts other than Wood, Rimmer and the RFL. Now we are told that the RFL stand to gain by an Odsal redevelopment with a shiny new international RL stadium and headquarters at odsal. All at the cost of the Bulls.