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| Quote ="LeagueDweeb"What funding did other clubs receive tat OK Bulls did not? And when?'"
[urlhttp://www.bbc.co.uk/sport/0/rugby-league/26339196[/url
This paragraph quoting Mark Moore;
"He said the club was having to operate on only half the central distribution funding, with the rest of the Super League clubs sharing the other half"
This is not new. Everyone, including those that don't care, knew/know that money was being shared out across other SL clubs.
As for the new owners owing money back to the RFL for moneys paid in the previous regime, it's just wrong. ALL other creditors lost out, yet the RFL are still claiming back their cash. You try to make out that the RFL may have saved a winding up order, yet in reality the RFL have the ability to reclaim their money as they are the rule makers. That money should have been wrote off when the new owner took over - The RFL was just a creditor at this point and should not claim any preferential treatment.
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| Quote ="Duckman"Well my poll thread has certainly taken an unexpected turn. Mr Dweeb, if not Blake Solly, is clearly someone from or connected to the RFL and has had sight of, or knows people personally, who have had sight of documents and conversations not in the public domain.
Which they are now using on here to paint the RFL's side of events as having no blame or fault or any wrongdoing whatsoever. (even if some of the "help" was in of itself clearly counter productive)
Disappointing. Im not getting involved in a semantic argument with anybody, but the two points that stand out for me are;
- "Urban myth" that other teams got our allocation shared??!?
- Did the RFL or did they not suggest admin as Bb2014 say?
One side is clearly lying.
The whole affair has beaten me down, and I suspect Im not alone (anyone suprised at the low attendances this year needs to give their head a shake btw), I now fully expect the "independent"
appeal panel to side fully with Mr Dweeb and the RFL and uphold the 6 points. We'll struggle on, pick up a couple of wins but it wont be enough to avoid the inevitable. I suspect on 2nd of June we will need to begin preparations for competing in tier 2 next season. And to be frank, I'm almost past caring, (very definately the wrong word but im not sure how else to put it when you care so much that you just want he suffering to end) just get the appeal done, get this season done, and hopefully we can move on and rebuild with a sustainable club in the 2nd tier and look to get back up at some point in the future.
'"
Your frustration is entirely understandable. It must be tough seeing your club in such a position.
Perhaps you should look at MG's motivation for appealing, whilst also considering that it was he who placed OK Bulls into administration in the full knowledge that this would trigger a sanction owing to an insolvency event.
I would proffer that perhaps MG is seeking to ingratiate himself with Bradford Bulls fans, in appearing to fight for their club? It is also worth noting the repeated appeals for fans to put their own hard earned money into the club.
It is worth noting that GS employed the same tactic when he was fronting the media for OK. Imploring fans to spend their money, publicly lambasting them for not buying enough season tickets when he himself invested absolutely not one penny into OK Bulls.
Bradford Bulls will rise again.
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| Quote ="daveyz999"[urlhttp://www.bbc.co.uk/sport/0/rugby-league/26339196[/url
This paragraph quoting Mark Moore;
"He said the club was having to operate on only half the central distribution funding, with the rest of the Super League clubs sharing the other half"
This is not new. Everyone, including those that don't care, knew/know that money was being shared out across other SL clubs.
As for the new owners owing money back to the RFL for moneys paid in the previous regime, it's just wrong. ALL other creditors lost out, yet the RFL are still claiming back their cash. You try to make out that the RFL may have saved a winding up order, yet in reality the RFL have the ability to reclaim their money as they are the rule makers. That money should have been wrote off when the new owner took over - The RFL was just a creditor at this point and should not claim any preferential treatment.'"
There is no evidence of this distribution whatsoever. OK Bulls were on a reduced distribution in order for the RFL to recoup monies paid in sustaining BB Holdings. This money could not be written off.
The RFL is not claiming ay preferential treatment. It is not a creditor of OK Bulls, it is a creditor of OK. OK guaranteed that if OK Bulls were to enter administration within two years of him taking over the licence, he would repay money advanced in year 1 of his tenure.
I'm not quite sure what Mark Moore's point is. It appears he was expecting BB2014 to simply pick up a liability free business that would have the same central funding as every other club and not have to carry over a competition points sanction.
When he learned that this was not the case, he chose not to purchase the business from the administrator.
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| Quote ="Ferocious Aardvark"When did the RFL ever announce a sanction against OKB, then?
And so the RFL have nevertheless claimed £900k+ as a creditor, presumably fraudulently?'"
The RFL has lodged that sum as it has a guarantee provided by OK. In order that the RFL can pursue OK for repayment, it has to show that funds were paid to OK Bulls and should be part of any financial statements upon liquidation of OK Bulls.
It is in effect, a technical safeguard to prevent Ok from claiming the funds do not appear in OK Bulls financial statements so there are therefore not repayable.
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| Answer these simple questions please, Mr Dweeb? Since you must be very well acquainted with all the particulars of what happened, I would expect you will have the numbers readily available if not commited to memory?
1 - At the date BBH was placed in Administration (26/6/12), how much of the 2012 Sky/central funding allocation had been paid by the RFL to BBH over and above what BBH was due to receive anyway on a monthly basis up to 26/6/12?
2 - How much did the RFL pay to to Joint Administrators of BBH in the nine and a half weeks weeks between 26/6/12 and 31/8/12, the date OKB took over the business?
3 - If the RFL had paid more to BBH up to 26/6/12 than was due on a normal monthly basis (see Question 1), why was that excess - which will have been an advance agaist future payments, and therefore a creditor in the books of BBH - not recorded as a creditor in the list of creditors prepared by the Joint Administrators?
4 - What (if anything) was the value of [Sky money/central funding due to a SL club for 2012 less [amounts paid to BBH prior to 26/6/12 less [amounts paid to the Joint Administrators 26/6/12-31/8/12?
5 - If the answer to 4 was > nil, what happened to that residual amount?
6 - You state the RFL paid Fees charged by the Joint Administrators. How much did they pay, and when? And why is there no reference to any such payments in the Joint Administrators' filings at Companies House?
7 - Please state, for the avoidance of doubt, how much the RFL paid to BBH, BBH (in Administration), The Joint Administrators for fees, any other parties directly where BBH (in Administration) would otherwise have been responsible and OKB (if anything) for the 2012 funding season (which I think runs from the previous November?).
8 - Please state how much more the value in 7 was than the funding due to a SL club for the 2012 funding season?
9 - Please compare that value with the c.£1.3m confiscated from OKB and BBNL, and explain the justification for the retention by the RFL of any difference.
I'll just check out my copies of all the documents filed at Companies House and/or issued to creditors while you put your answers together, so we can cross-reference where necessary.
Thnaks in anticipation.
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| I think Blake might now be on a conference call........
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| Quote ="Adeybull"...
.'"
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| Surprised no ones noticed that since dweeb started posting his drivel we haven't had any contributions from either wooden stand or noble and honest. Both of whom contributed virtually daily before dweebs appearance and pushed a very similar line of crap citing insider info and unable to back any of it up. Personally I suspect dweeb is the latter troll but not bothering to hide behind crap poetry anymore and I suspect the real life poster is actually a lawyer but not Solly.
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| Quote ="Adeybull"Answer these simple questions please, Mr Dweeb? Since you must be very well acquainted with all the particulars of what happened, I would expect you will have the numbers readily available if not commited to memory?
1 - At the date BBH was placed in Administration (26/6/12), how much of the 2012 Sky/central funding allocation had been paid by the RFL to BBH over and above what BBH was due to receive anyway on a monthly basis up to 26/6/12?
2 - How much did the RFL pay to to Joint Administrators of BBH in the nine and a half weeks weeks between 26/6/12 and 31/8/12, the date OKB took over the business?
3 - If the RFL had paid more to BBH up to 26/6/12 than was due on a normal monthly basis (see Question 1), why was that excess - which will have been an advance agaist future payments, and therefore a creditor in the books of BBH - not recorded as a creditor in the list of creditors prepared by the Joint Administrators?
4 - What (if anything) was the value of [Sky money/central funding due to a SL club for 2012 less [amounts paid to BBH prior to 26/6/12 less [amounts paid to the Joint Administrators 26/6/12-31/8/12?
5 - If the answer to 4 was > nil, what happened to that residual amount?
6 - You state the RFL paid Fees charged by the Joint Administrators. How much did they pay, and when? And why is there no reference to any such payments in the Joint Administrators' filings at Companies House?
7 - Please state, for the avoidance of doubt, how much the RFL paid to BBH, BBH (in Administration), The Joint Administrators for fees, any other parties directly where BBH (in Administration) would otherwise have been responsible and OKB (if anything) for the 2012 funding season (which I think runs from the previous November?).
8 - Please state how much more the value in 7 was than the funding due to a SL club for the 2012 funding season?
9 - Please compare that value with the c.£1.3m confiscated from OKB and BBNL, and explain the justification for the retention by the RFL of any difference.
I'll just check out my copies of all the documents filed at Companies House and/or issued to creditors while you put your answers together, so we can cross-reference where necessary.
Thnaks in anticipation.'"
The RFL is not a creditor of any club with regard to distribution of Sky money, hence why it does not appear as such on any financial statements.
The RFL funded BB Holdings prior to the company being placed in administration.
This was done with the agreement of the other Super League clubs, the caveat being that this support would be redeemed from any future central funding. Hence the OK Bulls not receiving what ordinarily would have been distributed had there been no assistance to BB Holdings.
You may recall the serious financial state the club announced it was in during the early part of 2012. Perhaps you should be asking of the then directors and shareholders, who was funding the club from the point when the financial difficulties were made public. Who injected the cash required to keep the club afloat.
I think you will find the reply is that it was not any of them. Who did pay the substantial bill for P%A Partnership, if as you appear to believe, it was not the RFL?
It would seem that some Bradford Bulls fans have trodden the same path as Mark Moore followed the same path as Stephen Coulby before him in blaming the RFL for the problems created by the directors and owners of the various operating companies behind the club.
To clarify, I am unable to quote exact figures as they are subject to commercially confidential agreements.
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| Quote ="Ferocious Aardvark"'"
If all else fails, blame the RFL.
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| Quote ="Adeybull"Answer these simple questions please, Mr Dweeb? Since you must be very well acquainted with all the particulars of what happened, I would expect you will have the numbers readily available if not commited to memory?
1 - At the date BBH was placed in Administration (26/6/12), how much of the 2012 Sky/central funding allocation had been paid by the RFL to BBH over and above what BBH was due to receive anyway on a monthly basis up to 26/6/12?
2 - How much did the RFL pay to to Joint Administrators of BBH in the nine and a half weeks weeks between 26/6/12 and 31/8/12, the date OKB took over the business?
3 - If the RFL had paid more to BBH up to 26/6/12 than was due on a normal monthly basis (see Question 1), why was that excess - which will have been an advance agaist future payments, and therefore a creditor in the books of BBH - not recorded as a creditor in the list of creditors prepared by the Joint Administrators?
4 - What (if anything) was the value of [Sky money/central funding due to a SL club for 2012 less [amounts paid to BBH prior to 26/6/12 less [amounts paid to the Joint Administrators 26/6/12-31/8/12?
5 - If the answer to 4 was > nil, what happened to that residual amount?
6 - You state the RFL paid Fees charged by the Joint Administrators. How much did they pay, and when? And why is there no reference to any such payments in the Joint Administrators' filings at Companies House?
7 - Please state, for the avoidance of doubt, how much the RFL paid to BBH, BBH (in Administration), The Joint Administrators for fees, any other parties directly where BBH (in Administration) would otherwise have been responsible and OKB (if anything) for the 2012 funding season (which I think runs from the previous November?).
8 - Please state how much more the value in 7 was than the funding due to a SL club for the 2012 funding season?
9 - Please compare that value with the c.£1.3m confiscated from OKB and BBNL, and explain the justification for the retention by the RFL of any difference.
I'll just check out my copies of all the documents filed at Companies House and/or issued to creditors while you put your answers together, so we can cross-reference where necessary.
Thnaks in anticipation.'"
You haven't actually said what you hold the RFL responsible for.....perhaps you'd care to explain just how much of all this is their fault, and clarify exactly what you think they should have done, balancing this against what they actually did do.
Perhaps you could also expand on where you think Bradford Bulls would be if the RFL had not loaned the club £700,000, or funded the club when the financial mess hit home, or funded it when OK walked away.
Do tell.
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| Quote ="LeagueDweeb"You haven't actually said what you hold the RFL responsible for.....perhaps you'd care to explain just how much of all this is their fault, and clarify exactly what you think they should have done, balancing this against what they actually did do.
Perhaps you could also expand on where you think Bradford Bulls would be if the RFL had not loaned the club £700,000, or funded the club when the financial mess hit home, or funded it when OK walked away.
Do tell.'"
Perhaps if you answer Adey's 9 direct questions he may comment on your 2.
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| Quote ="LeagueDweeb"The RFL is not a creditor of any club with regard to distribution of Sky money, hence why it does not appear as such on any financial statements.'"
Why?
If any of the annual central distribution of funds is paid in advance to a club, under normal accounting and tax rules that would surely be an advance and therefore repayable? Are you telling us that the RFL does not include that provision in its agreement with the SL clubs? Would that not make the RFL board grossly negligent, in putting the RFL in a position of advancing money to a club with no legal right to recover such advances?
Quote ="LeagueDweeb"The RFL funded BB Holdings prior to the company being placed in administration. '"
Indeed it did. As it did every other SL club. although I presume you mean "partially-funded", since BBH had the usual other commercial income streams as well.
But you will not answer my question, which was "by how mch more than what a SL club would have been due to receive anyway?". Without knowing that value, we can have no way of judging what you allege.
Quote ="LeagueDweeb"This was done with the agreement of the other Super League clubs, the caveat being that this support would be redeemed from any future central funding. Hence the OK Bulls not receiving what ordinarily would have been distributed had there been no assistance to BB Holdings.'"
Since you appear to be acknowledging that the amount to be withheld from OKB was to be any excess that the RFL paid to BBH (and, I presume, BBH (in Administration), although you appear to be getting a bit confused with your responses), then again without answering my earlier questions we can have no way of judging what you allege.
But your answer indicates quite clearly that an agreement was reached with other SL clubs, PRIOR to BBH entering administration, that a sum of money (value unclear) WOULD be deducted from the central funding provided to a subsequent purchaser of the business. So I have further questions for you here:
1 - Why was this fact not stated in the document the Joint Administrators provided to prospective purchasers of the business? Given it would amount to a very material fact indeed, likley to materially influence any decision a prospective purchaser might take?
2 - When was OK made aware of this impediment? And, if it was not immediately upon his registering an interest then why not?
Quote ="LeagueDweeb"You may recall the serious financial state the club announced it was in during the early part of 2012. Perhaps you should be asking of the then directors and shareholders, who was funding the club from the point when the financial difficulties were made public. Who injected the cash required to keep the club afloat.'"
See my answers above. You appear now to be narrowing the period in question down to that between early March 2012 and 26 June 2012. Again, we need to know the amount the RFL paid to BBH that was in excess of what it would have paid anyway, since that would appear to comprise a big part of what the RFL subsequently sought to recover through the central allocation confiscation. We are talking maybe around 15 weeks here? And, in that time, BBH received c.£500k from the "Pledge to Survive" campaign, plus gate receipts and such of the other commercial income streams as continued. The directors after the Hood regime was evicted seem not to have paid HMRC (or few others, for that matter) anything much at all - as is clear from the creditors list attached to the Statement of Affairs - so it seems unlikley that there can have been a material funding requirement over that period, over and above the funds already available to BBH. Not sustainable long-term, obviously, but over that 15 weeks very hard to envisage it amounting to anything more than a fraction of the total confiscation?
And anyway, as I noted above, surely a competant and responsible RFL board would have ensured that any such additional funding was clearly defined as loans, in advance of future funding, and therefore would rank as a creditor in the event of insolvency? Indeed, surely they would have retained their ealier Charge on the assets, or put in place a new one? Surely you are not suggesting gross financial negligence by the RFL board?
Quote ="LeagueDweeb"I think you will find the reply is that it was not any of them. Who did pay the substantial bill for P%A Partnership, if as you appear to believe, it was not the RFL?'"
First hints of a straw man there? I merely observe that there seems to be no reference to the Joint Administrators being paid any fees for their work directly by any third party. Having a fair amount of experience in corporate insolvency, I am au fait with how Administrators have to propose what fees they are seeking to draw, and the means by which they will be paid.
Let's cut to the chase here. In their report dated 9/7/13, the Joint Administrators stated that their costs to date (and a totally utterly scandalous amount, in my view) were £349k. OF WHICH £133K HAD BEEN PAID BY THAT DATE - OUT OF THE ADMINISTRATION ACCOUNT. When you read the abstract or receipts and payments, it seems that amount was recovered out of the receipt for the sale of the assets (virtually all intangible) to OKB.
Oh, and the report states that the Joint Administrators' remuneration would be limited to that £133k.
I would invite you to comment?
Quote ="LeagueDweeb"It would seem that some Bradford Bulls fans have trodden the same path as Mark Moore followed the same path as Stephen Coulby before him in blaming the RFL for the problems created by the directors and owners of the various operating companies behind the club.'"
Indeed that may be the case. But it has no relevance to the allegations you made, and to the questions I asked of you earlier this evening so we could better consider what you had alleged.
Quote ="LeagueDweeb"To clarify, I am unable to quote exact figures as they are subject to commercially confidential agreements.'"
Indeed? So, let me get this right? You can make grand, sweeping statements - parts of which look to be little short of absurd (let alone disingenuous) to those of us with even a little understanding of such matters - but are unwilling to provide anything whatsoever to back up your allegations?
Not even broad generalisations of numbers, to support your broad generalisation allegations?
Well I feel sure our readers are quite capable of forming their own conclusions from that?
Oh, but funnily enough not every number I asked for IS subject to any commercial confidentiality agreement. You walked into the trap I set for you there. One of those numbers - the Joint Administrators' fees - I have already quoted from public record. Here is another one for the period from 26/6/12:
"Advance from the Rugby Football League - £381,278".
More detail about the nature and timing of this (it was received in instalments), how it arose, its relationship to payment of wages, and - in particular, that it was an advance of "Central distribution monies due to the Company" - is set out in the report. Maybe I should post the full text of the report on here? I suspect it would be quite interesting for many of our readers.
So we do actually KNOW one of the numbers I asked you for, but which you declined to provide.
Given RFL central funding was around £110k/month, as I recall, then it is certainly clear that the RFL DID advance more than the normal monthly funding over the Administration period. Although part of that was tied up with the Neonrain bid - so those trolls and others who consistently stated that the club had received more than it was due from the RFL over the Administration period were correct (sorry to say, fellow Bulls fans). I'd presume by about £160k?
But I struggle to establish any relationship between these sort of numbers, and the c. £1.3m confiscated from future owners.
Surely, without resorting to specific numbers but remaining in broad generalities, you can provide something to back up your allegation that the c. £1.3m confiscation was to recover what the RFL had had to pay out?
Because, if you cannot, then I am afraid the conclusion would be quite clear? Would it not?
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| And it is also a fact that the moneys retained by the RFL were actually shared amongst other clubs.
In fact, there was a vote held by the clubs to determne how the money was to be handled. Some on this forum actually know how the votes were cast.
I am getting the impression that given the posters inability to resight even common knowledge, the said individual is either a troll trying to cause a stir (thanks mat) or someone from the governing body attempting to make the RFL smell like roses.
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| Quote ="LeagueDweeb"You haven't actually said what you hold the RFL responsible for.....perhaps you'd care to explain just how much of all this is their fault, and clarify exactly what you think they should have done, balancing this against what they actually did do.
Perhaps you could also expand on where you think Bradford Bulls would be if the RFL had not loaned the club £700,000, or funded the club when the financial mess hit home, or funded it when OK walked away.
Do tell.'"
You started this argument with your allegation about why the RFL confiscated the c.£1.3m from future, blameless owners of the club. That confiscation has clearly been instrumental in getting to the present awful situation and, as I have stated, with reasons, was a totally absurd decision IMO. To be better able to judge what the alternatives open to the RFL were, and therefore the extent to which such a seemingly absurd action could be at least partly explained and understood, I asked you for some facts. You declined to give them.
Even so, I will give some answer to yours. What should the RFL have done? Easy. Made every set of club owners (NOT directors - it was the fact that the Bulls' directors were NOT its majority owners that was a major cause of all this in the first place) put up a bond to cover the likely amount of creditors in the event of insolvency. And a separate bond, realisable quickly, to be enforced should material HMRC default arise. And to have done this years ago - at the start of SL, even, when the riches of the Sky money descended and clubs were supposed to use it to clear debts - not when a club is teetering on the brink. The horse has long bolted by then.
Now, can we have some answers from YOU please?
You keep trying to widen your argument out into areas that were not part of your original allegation. The questions you ask are entirely reasonable, but are of little relevance to the matter at hand. Can we stick to the subject of your allegation, please?
But I WILL make ONE point in response to your wider question "where you think Bradford Bulls would be if the RFL had not loaned the club £700,000" - I suspect probably still BBH, probably restructured and with a lower cost base, with the Hood regime long gone, but if not then the subject of a far far smaller insolvency than subsequently arose. And none of the damage done by the war between Caisley and Hood.
The action of RFL, in making the secret loans to the club and then taking the stadium in settlement, in the view of many made a bad situation far, far worse.
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| Quote ="LeagueDweeb"You haven't actually said what you hold the RFL responsible for.....perhaps you'd care to explain just how much of all this is their fault, and clarify exactly what you think they should have done, balancing this against what they actually did do.
Perhaps you could also expand on where you think Bradford Bulls would be if the RFL had not loaned the club £700,000, or funded the club when the financial mess hit home, or funded it when OK walked away.
Do tell.'"
They'd have gone into administration somewhere between September and December 2011. The RFL wouldn't have seized the ground lease and £500k of supporters money wouldn't have been lost to no effect. I've had it confirmed by a rugby league journalist and someone close to Gary Getherington that the loan plus ground lease 'purchase' incensed the clubs and led them to vote for the new owner to be punished by keeping half the Sky money and sharing it between them.
Had the RFL not lent Peter Hood the money within weeks of giving the club a Grade B license, had they ordered an audit or an extraordinary meeting of the shareholders to raise capital, or indeed any combination thereof, there is probability that the club would still own the lease, the new owner wouldn't have been punished to the tune of £1.3 million and the club wouldn't be where it is in the first relegation season for years.
It was a bizarre decision, which only came out when the great 'Odsal vulture circling lie' was being told to cover what was essentially asset seizure.
The RFL are not the root cause of this fiasco but they have made it considerably and probably irreparably worse. They certainly lied about the Odsal purchase and likely lied again in respect of their role in the second administration.
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| Quote ="LeagueDweeb"You haven't actually said what you hold the RFL responsible for.....perhaps you'd care to explain just how much of all this is their fault, and clarify exactly what you think they should have done, balancing this against what they actually did do.
Perhaps you could also expand on where you think Bradford Bulls would be if the RFL had not loaned the club £700,000, or funded the club when the financial mess hit home, or funded it when OK walked away.
Do tell.'"
Wait! I know this one....
Oh yes, I answered it in December:
Quote ="Highlander"Yes. That transaction was to redeem the secret £700k unsecured loan which the RFL had foolishly advanced Bradford 4months previously.
The RFL then bricked themselves when they realised the exposure & needed some good "spin" on it when it leaked so offered to buy the Odsal lease(as the council still own the freehold).
They then wrote off the loan and took the only asset of value Bradford had.
6 months later the administrator offered creditors SFA. I've always wondered why he didn't look at the RFL deal which effectively made them preferred creditors to the detriment of the taxpayers & everyone else.
Bottom line, the RFL £700k intervention got Bradford into that season and no more. Then all the rubbish about "competition integrity" kicked in.
Bradford lost their main asset.
Bradford built up another 8months of debt, thereby ensuring administration
Bradford went to the fans, and used up all that goodwill.
If the RFL had said no, Bradford would have entered administration in the preseason. With less debt, still holding an asset (so more attractive to investors - maybe a better quality of investor), and still able call on the fans goodwill.
That RFL intervention screwed us completely. Our directors must have made a compelling case. I don't know who to blame more for it. The directors who sold it to the RFL, or the RFL who bought it....'"
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| Nice, that came back in handy.
And I completely agree!
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| Quote ="Adeybull"Why?
If any of the annual central distribution of funds is paid in advance to a club, under normal accounting and tax rules that would surely be an advance and therefore repayable? Are you telling us that the RFL does not include that provision in its agreement with the SL clubs? Would that not make the RFL board grossly negligent, in putting the RFL in a position of advancing money to a club with no legal right to recover such advances?
Quote I'm sure the RFL would seek to recoup Sky money if, for example a club refused to appear in a Sky broadcast. Given the OK was required to give a personal guarantee for repayment should a further insolvency event occur, I'd suggest that an insolvency event in isolation does not require repayment. I'd suggest it was highly prudent of the RFL to protect the money advanced to OK Bulls, given the value of Bradford Bulls to the competition'"
Indeed it did. As it did every other SL club. although I presume you mean "partially-funded", since BBH had the usual other commercial income streams as well.
Quote The usual commercial income streams? The club took all it's gate money in advance through the cheap season ticket deals. It was back filling debts, hence why cash flow became the issue that it did.'"
But you will not answer my question, which was "by how mch more than what a SL club would have been due to receive anyway?". Without knowing that value, we can have no way of judging what you allege.
Quote I'd suggest the clue is the back filling of debts due to practically all gate money being taken in advance, and the level of money withheld from OK Bulls. '"
Since you appear to be acknowledging that the amount to be withheld from OKB was to be any excess that the RFL paid to BBH (and, I presume, BBH (in Administration), although you appear to be getting a bit confused with your responses), then again without answering my earlier questions we can have no way of judging what you allege.
Quote There is no confusion. The RFL funded BB Holdings for at least six months. BB Holdings went into admin istration because the RFL could no longer continue to fund the club'"
But your answer indicates quite clearly that an agreement was reached with other SL clubs, PRIOR to BBH entering administration, that a sum of money (value unclear) WOULD be deducted from the central funding provided to a subsequent purchaser of the business. So I have further questions for you here:
1 - Why was this fact not stated in the document the Joint Administrators provided to prospective purchasers of the business? Given it would amount to a very material fact indeed, likley to materially influence any decision a prospective purchaser might take?
Quote Why would it be included? The administrators job was to sell the assets. Any notification reduction of funding would and did come from the RFL as a condition of a licence being granted to the successful bidder and PRIOR to any asset sale and licence transfer taking place. The administrators & the RFL had separate but complimentary roles.'"
2 - When was OK made aware of this impediment? And, if it was not immediately upon his registering an interest then why not?
Quote OK would hve been informed during discussions with the RFL. Remember, as shown during this recent take over, acceptance of an offer by the administrator for the assets is a pre-cursor to the RFL undertaking due diligence and detailing terms of licence grant. The administrator does not distribute Sky money.'"
See my answers above. You appear now to be narrowing the period in question down to that between early March 2012 and 26 June 2012. Again, we need to know the amount the RFL paid to BBH that was in excess of what it would have paid anyway, since that would appear to comprise a big part of what the RFL subsequently sought to recover through the central allocation confiscation. We are talking maybe around 15 weeks here? And, in that time, BBH received c.£500k from the "Pledge to Survive" campaign, plus gate receipts and such of the other commercial income streams as continued. The directors after the Hood regime was evicted seem not to have paid HMRC (or few others, for that matter) anything much at all - as is clear from the creditors list attached to the Statement of Affairs - so it seems unlikley that there can have been a material funding requirement over that period, over and above the funds already available to BBH. Not sustainable long-term, obviously, but over that 15 weeks very hard to envisage it amounting to anything more than a fraction of the total confiscation?
Quote I haven't narrowed any period down. If you'd care to check back I previously mention the RFL funding BB Holdings for some 6 months. See my above point regarding the bulk of gate income being taken in advance, and let's not forget at a heavily discounted rate, and the back filling of debts, as highlighted by the need to loan £700k and sell the lease. You would have to ask the directors where all the money went & why the operating costs of the business were so high that creditors could not be paid & begging bowls had to come out.'"
And anyway, as I noted above, surely a competant and responsible RFL board would have ensured that any such additional funding was clearly defined as loans, in advance of future funding, and therefore would rank as a creditor in the event of insolvency? Indeed, surely they would have retained their ealier Charge on the assets, or put in place a new one? Surely you are not suggesting gross financial negligence by the RFL board?
Quote The money advanced was not a loan to BBH. The directors and shareholders made it clear they were unable to fund the business. The RFL, with agreement from the other SL clubs had to step in. In order that one club would receive no greater level of funding than another, it was agreed that any future owner would be issued a licence on the basis that money advanced to BBH was withheld from future central distribution. It's not negligence to ensure money is recouped. The only other option was to allow BBH to be liquidated without any input from the RFL.'"
First hints of a straw man there? I merely observe that there seems to be no reference to the Joint Administrators being paid any fees for their work directly by any third party. Having a fair amount of experience in corporate insolvency, I am au fait with how Administrators have to propose what fees they are seeking to draw, and the means by which they will be paid.
Let's cut to the chase here. In their report dated 9/7/13, the Joint Administrators stated that their costs to date (and a totally utterly scandalous amount, in my view) were £349k. OF WHICH £133K HAD BEEN PAID BY THAT DATE - OUT OF THE ADMINISTRATION ACCOUNT. When you read the abstract or receipts and payments, it seems that amount was recovered out of the receipt for the sale of the assets (virtually all intangible) to OKB.
Quote If you would care to check, you'll find that P&A lodged a charge against OK Bulls in September 2012, which was not discharged until 3 October 2013. I'd suggest you take into account the very close relationship between Chris Caisley & Brendan Guilfoyle regarding some of the formatting & information discrepancies you seem to think exist in reports released.'"
Oh, and the report states that the Joint Administrators' remuneration would be limited to that £133k.
I would invite you to comment?
Quote See above. You seem to think the money paid by OKB, £150 paid the £133k final amount to P&A. If that is the case, what did P7A hold a charge for, and where did that money go? if not to P&A?'"
Indeed that may be the case. But it has no relevance to the allegations you made, and to the questions I asked of you earlier this evening so we could better consider what you had alleged.
Indeed? So, let me get this right? You can make grand, sweeping statements - parts of which look to be little short of absurd (let alone disingenuous) to those of us with even a little understanding of such matters - but are unwilling to provide anything whatsoever to back up your allegations?
Quote And you have provided what exactly?'"
Not even broad generalisations of numbers, to support your broad generalisation allegations?
Well I feel sure our readers are quite capable of forming their own conclusions from that?
Quote Well, it is a matter of record that BBH directors stated the club was losing £100,000 a month & needed £1m to reach the end of the year.'"
Oh, but funnily enough not every number I asked for IS subject to any commercial confidentiality agreement. You walked into the trap I set for you there. One of those numbers - the Joint Administrators' fees - I have already quoted from public record. Here is another one for the period from 26/6/12:
Quote And I've already dealt with that.'"
"Advance from the Rugby Football League - £381,278".
More detail about the nature and timing of this (it was received in instalments), how it arose, its relationship to payment of wages, and - in particular, that it was an advance of "Central distribution monies due to the Company" - is set out in the report. Maybe I should post the full text of the report on here? I suspect it would be quite interesting for many of our readers.
So we do actually KNOW one of the numbers I asked you for, but which you declined to provide.
Quote The clue is in the term, 'advance central distribution monies' Not 2012 monies.'"
Given RFL central funding was around £110k/month, as I recall, then it is certainly clear that the RFL DID advance more than the normal monthly funding over the Administration period. Although part of that was tied up with the Neonrain bid - so those trolls and others who consistently stated that the club had received more than it was due from the RFL over the Administration period were correct (sorry to say, fellow Bulls fans). I'd presume by about £160k?
But I struggle to establish any relationship between these sort of numbers, and the c. £1.3m confiscated from future owners.
Quote Perhaps you ought to consider how the club continued to trade prior to administration? The administrators report would not include monies not paid to him'"
Surely, without resorting to specific numbers but remaining in broad generalities, you can provide something to back up your allegation that the c. £1.3m confiscation was to recover what the RFL had had to pay out?
Because, if you cannot, then I am afraid the conclusion would be quite clear? Would it not?
Quote Your conclusion appears to be that you believe the RFL advanced the sum of circa £300k via the administrator and that no further assistance was granted to BBH prior to administration, Consequently you believe some £1m was withheld from future distribution for no reason other than some form of punishment for the advance of circa £300k, The RFL should take up payday lending with those sort of interest charges!!'"
'"
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| Not a single direct answer. Just a load of waffle that does precisely nothing to justify the confiscation.
I provided facts. Or deductions which could be either proved by or refuted by facts provided in answer to my questions. Mr Dweeb declined to provide any facts though.
The bit about the P&A charge on OKB is not relevant, as it clearly relates to ensuring the purchase consideration was paid. The Joint Administrators' progress report makes clear there was a dispute over payment of the final part of that, which was not resolved till a long time afterwards - a subject that has been raised on here anyway in the past.
He alludes for the first time to the "close relationship" between Caisley and Guilfoyle, and seems to be suggesting some kind of collusion and factual inaccuracies in the latter's reports? Now I bow to no one over concern over Caisley's actions over the whole period, as regular readers will be very much aware. So I would be very interested indeed in any facts in this regard that Mr Dweeb may wish to share with us. Unfortunately, all we have is vague allusions. And anyway, since Caisley was never a director over the period, why would this be relevant to securing advances of money off the RFL?
Mr Dweeb's allegation seems to amount to the RFL having advanced far more money to BBH than has been recorded or stated anywhere, without any kind of security, and that money was lost when BBH went into administration. Yet, should this be the case, he has advanced no proof whatsoever of it nor do any facts in the public domain support the allegation. He seems completely unable to back up his allegation.
I would be tempted to leave it at that. But, since he seems to feel so strongly about something he seems unable or unwilling to back up with facts, I guess you have to wonder if there is something else he is not saying that May be relevant?
Now the only other monies we KNOW we're paid to BBH by the RFL were for the purchase of the Odsal lease. At a "commercial value", which gave about another £1/2 m to BBH after the loans were repaid. Is he suggesting that maybe this was other than a transaction at commercial value? And that it was some part of THESE monies that the RFL was seeking to recover? Yes or no please, Mr Dweeb so we can either consider or discount this possibility?
Now if, perchance, he IS alluding to this, then there are some significant implications. Firstly, that the positions of those at the RFL who agreed to the transactions would clearly be totally untenable? Surely the confiscation was not engineered just to allow some officials to keep their jobs?
But secondly, if the confiscation WAS perchance to recover the money paid for the Odsal lease? Then once the confiscation period is complete then the Odsal lease should revert to the owners of the club, who will effectively have paid to buy back the lease through the confiscation of Central funding?
Now surely this is all too improbable to have any basis in fact? Yet Mr Dweeb has advanced no other plausible justification. So, frankly, I remain very puzzled indeed as to why he should have made the allegation.
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| Was thinking the same re his figues to make up the 1.3 million, but instantly discounted it as this would mean the RFL would have eventually charged the new owners for the lease, yet the RFL would still be the leaseowner (surely not!)
The posters failure to provide any detals of figures or proof to back up his claims is hurting his argument. The poster beleives that of the confiscated money taken from the Bulls, the full amount went straight back to the RFL. We all know this was not the case, as the money was shared out between the other SL clubs.
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| Quote ="daveyz999"And it is also a fact that the moneys retained by the RFL were actually shared amongst other clubs.
In fact, there was a vote held by the clubs to determne how the money was to be handled. Some on this forum actually know how the votes were cast.
I am getting the impression that given the posters inability to resight even common knowledge, the said individual is either a troll trying to cause a stir (thanks mat) or someone from the governing body attempting to make the RFL smell like roses.'"
So in essence you are saying that because the RFL advanced circa £300k to P&A, there was a punishment of £1m which was distributed among the other Super league clubs?
Any evidence of this being the case? Or is it just another chip on the shoulder urban myth?
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| Quote ="Highlander"Wait! I know this one....
Oh yes, I answered it in December:
'"
So it's all the RFL's fault for digging one of the biggest names in the game out of a hole? They should have said no & let Bradford Bulls disappear? Because that is what would have happened.
Imagine the reaction if the RFL had not acted as they did and it became public.
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| Quote ="Adeybull"Not a single direct answer. Just a load of waffle that does precisely nothing to justify the confiscation.
Quote I have provided you with reasons, you simply choose to ignore them because it doesn't fit the pre-conception fixed in your mind that it's all the RFL's fault.'"
I provided facts. Or deductions which could be either proved by or refuted by facts provided in answer to my questions. Mr Dweeb declined to provide any facts though.
Quote You haven't provided facts, you've proffered an opinion based on a fixed view.'"
The bit about the P&A charge on OKB is not relevant, as it clearly relates to ensuring the purchase consideration was paid. The Joint Administrators' progress report makes clear there was a dispute over payment of the final part of that, which was not resolved till a long time afterwards - a subject that has been raised on here anyway in the past.
Quote It's entirely relevant. You've said the fees were limited to £133k and were paid from the money deposited in the administration account by OKB. How much was deposited in the administrator account? It was far more than £133k and a large sum was paid in several months after the takeover. Where did those funds go, if not to P&A? No creditors were paid a penny remember.'"
He alludes for the first time to the "close relationship" between Caisley and Guilfoyle, and seems to be suggesting some kind of collusion and factual inaccuracies in the latter's reports? Now I bow to no one over concern over Caisley's actions over the whole period, as regular readers will be very much aware. So I would be very interested indeed in any facts in this regard that Mr Dweeb may wish to share with us. Unfortunately, all we have is vague allusions. And anyway, since Caisley was never a director over the period, why would this be relevant to securing advances of money off the RFL?
Quote Perhaps the threat of immediate liquidation by Guilfoyle is something you may wish to consider?'"
Mr Dweeb's allegation seems to amount to the RFL having advanced far more money to BBH than has been recorded or stated anywhere, without any kind of security, and that money was lost when BBH went into administration. Yet, should this be the case, he has advanced no proof whatsoever of it nor do any facts in the public domain support the allegation. He seems completely unable to back up his allegation.
Quote No security was required because it was clear the money would not be repaid by BBH. The RFL had the security of being able to balance the books by withholding future monies.'"
I would be tempted to leave it at that. But, since he seems to feel so strongly about something he seems unable or unwilling to back up with facts, I guess you have to wonder if there is something else he is not saying that May be relevant?
Now the only other monies we KNOW we're paid to BBH by the RFL were for the purchase of the Odsal lease. At a "commercial value", which gave about another £1/2 m to BBH after the loans were repaid. Is he suggesting that maybe this was other than a transaction at commercial value? And that it was some part of THESE monies that the RFL was seeking to recover? Yes or no please, Mr Dweeb so we can either consider or discount this possibility?
Quote Perhaps BBH failed to pay the lease once that deal was completed?'"
Now if, perchance, he IS alluding to this, then there are some significant implications. Firstly, that the positions of those at the RFL who agreed to the transactions would clearly be totally untenable? Surely the confiscation was not engineered just to allow some officials to keep their jobs?
Quote Oh dear, it's all the RFL isn't it?'"
But secondly, if the confiscation WAS perchance to recover the money paid for the Odsal lease? Then once the confiscation period is complete then the Odsal lease should revert to the owners of the club, who will effectively have paid to buy back the lease through the confiscation of Central funding?
Quote You've simply added the circa £300k to the lease figure and come up with 5.'"
Now surely this is all too improbable to have any basis in fact? Yet Mr Dweeb has advanced no other plausible justification. So, frankly, I remain very puzzled indeed as to why he should have made the allegation.
Quote As opposed to your allegation that it's all the RFL's fault Bradford Bulls are currently in.for the position they are? Had the RFL not loaned the £700k and then bought the lease, there would be no club. The requirement for loans shows the level of indebtedness the company faced, and the unwillingness of the directors & shareholders to cover those debts, this despite their business model being the reason why the club was in such a position. But it's all the RFL's fault. it shouldn't have stepped in when it did. If it had just stayed away, everything would be fine.'"
'"
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| Quote ="LeagueDweeb"So it's all the RFL's fault for digging one of the biggest names in the game out of a hole? They should have said no & let Bradford Bulls disappear? Because that is what would have happened.
Imagine the reaction if the RFL had not acted as they did and it became public.'"
G'day Blake
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