BRADFORD BULLS can today announce the completion of a change to its ownership.

OK Bulls Ltd was this morning placed into administration following a discrepancy over the planned transfer of shares to the club’s current directors, an agreement which was reached, in principal, earlier this month.

On Thursday, January 9, a meeting was held between all of the Bulls’ important stakeholders.

The afternoon’s discussions – chaired by the Rugby Football League – resulted in an agreement regarding the transfer of shares from the club’s former owner, Omar Khan, to the Bulls’ current board of directors.

However, despite all parties concurring on the matter during the meeting and undertaking the construction of a contract, an unforeseen development recently came to light. And as a result, continued efforts to resolve the club’s ongoing ownership issue came to a standstill late last week.

David Wilson, of Leeds-based DFW Associates, was appointed administrator of the club’s former holding company after it transpired that the company’s financial position had become untenable.

The Super League club has since been purchased by Bradford Bulls 2014 Ltd.

On behalf of DFW Associates, Mr Wilson said: “Upon the sanction of the Rugby Football League, we will have concluded the sale of the club to Bradford Bulls 2014 Ltd.

“It had not proved possible to resolve the ownership of the company with the previous owner and, as a result, the company’s financial position had become untenable.”

The new company is to operate under the directorship of Andrew Calvert, Mark Moore, Ian Watt and Robbie Hunter-Paul.

All players, employees and assets have been transferred to the new company, who will continue to function as Bradford Bulls – in Super League.

The club now intends to approach the RFL to discuss its future and seek to avoid a points deduction, as the board of directors have stated their intentions to continue to work with creditors.

Although technical issues are likely to arise due to the changeover, Bradford Bulls will continue to operate as normal.

Bradford Bulls 2014 Ltd have also agreed to honour all BELONG 2014 season tickets, insisting they will deliver on all terms of their purchase.

Both the administrator and the directors of Bradford Bulls 2014 Ltd are delighted to confirm that they have been able to secure the future of the club.

A spokesperson for the Bradford Bulls added: “Although a resolution wasn’t found after all avenues were exhausted, we feel the new company will give the club’s supporters much-needed clarity in terms of who is running, directing and owning their club.

For legal reasons, the club cannot make further comment at this time.

Long overdue.

The iconic Bulls brand hadn't been in the news for all the wrong reasons for over a week.

I suspected this was on the cards. At least there was no long protracted period of being in administration this time.

And they've strategically avoided a points deduction in a crucial season where relegation is a distinct possibility!

Just the full entitlement to Sky funding to be negotiated and secured by the latest bunch of barrow boy guvnors now

Can they be sure of that?
Only if they pay off all the creditors in full?

Who knows where this will end. One plus is that OK & his merry men are out of the picture but whether the new bunch can do any better remains to be seen.

Given that it's worded as the Bulls [i"former holding company"[/i which has been placed into administration, I'm assuming that's the deliberate ruse employed to avoid a points deduction?

Surely the bigger point is that at some stage the Bulls will go bust - properly, out-of-existence bust - unless they change a business model that has consistently lost money and left them in hock to creditors for the last decade.

If I was a Wakefield fan, whose club has sold Smith, Amor, Aiton, Cockayne to avoid exactly the situation the Bulls are in again I'd be looking at Bradford's squad list, then looking at the prospect of relegation and then screaming blue murder.

would anyone be able to hear you as you helped build Belle Vue?!

I feel for the fans,but Bradford RL have had more regenerations than Doctor Who

Quote William Eve="William Eve"Given that it's worded as the Bulls [i"former holding company"[/i which has been placed into administration, I'm assuming that's the deliberate ruse employed to avoid a points deduction?'" These articles might suggest otherwise: www.loverugbyleague.com/news_141 ... ction.html www.superleague.co.uk/article/29 ... -confirmed They both state that the new owners are seek to avoid a points deduction.

Quote William Eve="William Eve"Given that it's worded as the Bulls [i"former holding company"[/i which has been placed into administration, I'm assuming that's the deliberate ruse employed to avoid a points deduction?'" These articles might suggest otherwise: www.loverugbyleague.com/news_141 ... ction.html www.superleague.co.uk/article/29 ... -confirmed They both state that the new owners are seek to avoid a points deduction.

Quote Old Feller="Old Feller"These articles might suggest otherwise: www.loverugbyleague.com/news_141 ... ction.html www.superleague.co.uk/article/29 ... -confirmed They both state that the new owners are seek to avoid a points deduction.'" Both those links you've supplied refer to the "[uformer[/u holding company" (which I alluded to earlier) being placed into administration. And this news article below appeared on the official Bradford Bulls website earlier this afternoon but has now been hastily removed... 31st January 2014 [i"BRADFORD BULLS officials have this afternoon announced that the club will not suffer a points deduction, as a result of its former operating company entering administration. OK Bulls Ltd was placed into administration this morning but the club has since been purchased by Bradford Bulls 2014 Ltd. And, on behalf of the new board of directors, chairman Mark Moore has confirmed that the Bulls are to remain a First Utility Super League side and will start the new season on zero points"[/i. Even ITV news website got in on the act before it was hastily revised... [url=https://www.google.co.uk/search?hl=en&q=Bradford+Bulls+have+avoided+the+threat+of+a+second+points+deduction+in+two+years+after+the+ongoing+saga+over+the+troubled+Super+League+club&meta=#hl=en&q=Bradford+Bulls+have+avoided+the+threat+of+a+second+points+deduction+in+two+years+after+the+ongoing+saga+over+the+troubled+Super+League+club"Bradford Bulls have avoided the threat of a second points deduction in two years after the ongoing saga over the troubled Super League club ..."[/url

Quote Old Feller="Old Feller"These articles might suggest otherwise: www.loverugbyleague.com/news_141 ... ction.html www.superleague.co.uk/article/29 ... -confirmed They both state that the new owners are seek to avoid a points deduction.'" Both those links you've supplied refer to the "[uformer[/u holding company" (which I alluded to earlier) being placed into administration. And this news article below appeared on the official Bradford Bulls website earlier this afternoon but has now been hastily removed... 31st January 2014 [i"BRADFORD BULLS officials have this afternoon announced that the club will not suffer a points deduction, as a result of its former operating company entering administration. OK Bulls Ltd was placed into administration this morning but the club has since been purchased by Bradford Bulls 2014 Ltd. And, on behalf of the new board of directors, chairman Mark Moore has confirmed that the Bulls are to remain a First Utility Super League side and will start the new season on zero points"[/i. Even ITV news website got in on the act before it was hastily revised... [url=https://www.google.co.uk/search?hl=en&q=Bradford+Bulls+have+avoided+the+threat+of+a+second+points+deduction+in+two+years+after+the+ongoing+saga+over+the+troubled+Super+League+club&meta=#hl=en&q=Bradford+Bulls+have+avoided+the+threat+of+a+second+points+deduction+in+two+years+after+the+ongoing+saga+over+the+troubled+Super+League+club"Bradford Bulls have avoided the threat of a second points deduction in two years after the ongoing saga over the troubled Super League club ..."[/url