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

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?

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.

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?

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

You stupid boy...

I dunno. Now we know we signed Odsal over to pay off a loan it looks as if they deal was done to settle a debt rather than to reduce outgoings, at least I think that's it.

It certainly wasn't told like that at the forum and a few of us were taken in that it was an excellent deal securing the club's future. Obviously something happened since then to change things. RBS have been accused but it doesn't add up.

I'd like some clarity on all this, especially as we're being asked to prop the club up. It's only fair after all.

Well don't forget we received a huge big sum up front for the sale of the lease, all of which was available for setting against future expenses.

What was that I heard you say...?

Another thing - a few years ago when the £80m Sports village was first mooted

there were a few fans wanting to know how much cash we were putting in. I think I remember we were down for £7m - which at the time was put down as the commercial value of the lease. Does anyone else remember this or am I just going crackers

?

I think that may have been a commercial value of the land....I think our lease had always been a bit below the going rate as posters like Guess Who and the Bantam Menace would never let us forget.

And it doesn't help that RBS and the Bulls are putting out conflicting claims and counterclaims through the media, all clear as mud.

If the debt that was paid off was owed to the RFL, then effectively the club handed over the lease to pay off the debt to the RFL.

If the club does become insolvent it's entirely possible that an administrator or liquidator might challenge that transaction.

Who knows what happened though?

This is very murky and I do hope people aren't throwing good money after bad.

Really the board should announce they will resign at the end of next month and invite new people to come forward to be appointed as directors to take the club forward, in order to restore confidence.

I'm reluctant at the moment to pledge any cash to the Bulls. Sorry, but it feels wrong (not just risky) without more information and action from the board.

You all have my sympathy. As a Wigan fan I will never get over losing Central Park as a result of mismanagement of our club.

I really do hope nothing as grim as that is coming your way. I've never had a problem with Bradford fans or at your ground (in marked contrast to your "Big City" neighbours and the Hull clubs, for example) and it is appalling that a club with your history and status has been reduced to this.

No-one seems to be waiting in the wings anxious to join the board and put some money in though. My understanding is that Hood has always maintained he would stand down as soon as a suitable candidate did.

We are being told, sort of, that there is a least one such candidate now sitting out there, who may be persuaded to come on board if the pledge succeeds.

We'll see.

Must admit I've been sceptical about the "Odsal costs a fortune" line since Caisley claimed at a fans forum (circa 2000) that the safety certificate would be withdrawn unless £10m was spent immediately, including £2m on a new roof for the main stand.

Its not as if the terraces are crumbling or there's ever any signs of major maintenance/refurbishment projects taking place. Apart from once when the club claimed to have spent £35k repairing a burst main its never been clear what expensive and tricky repairs have been necessary.

Just spoken to my dad. Him, my brother and mother go to a pub quiz every week where after the quiz they do a Play Your Cards Right game. Its been rolling over for weeks and this week of all weeks my brothers ticket got drawn to play and he won it! £500! They've decided to pledge most of it as it was money they didn't have in the first place.

Was pretty proud of them for that.

Come on you bulls!

What the hell has happened here, in laymans terms? Why are we so short of money, i just dont understand. It's so sad.

Trying to get hold of brian kennedy as his bid for ranger fc will not go ahead he would be a decent owner me thinks sale have done reasonably well with his ownership

Well, I've made my pledge now! I was very much in the "have little confidence in the BoD and so why should I help to perpetuate the current board" camp. I then saw the [url=http://viewtopic.php?f=19&t=523361Why is Bradford Bulls worth saving[/url thread and thought about the question when I was adding a reply to the thread.

In the end, for me, it was a no brainer. What they have done for Little Miss Cookie over the last few weeks has been priceless at a difficult time in her life, so not to pledge would seem like a betrayal.

Hello



From [irecollection[/i it wasn't anywhere near that amount (£7m). I seem to remember a commitment to decorate and not much more.

Sad situation for the supporters this. The board however need shooting ... and shouldn't be let anywhere near anymore of your hard earned money.

I thought they said our contrbution to the development was in the land and not the cash

Something along the lines of - the land was worth £7m for development purposes (back then), but as the holder of the lease we had final say of what development goes on - therefore the lease is worth??


£1.2m if reports are correct.

Until recently I worked with a bloke who also worked for the RFU. He told me a story that Kennedy flew his helicopter down to some tournament to watch his son play. BK asked for permission to land his huge chopper on the fields; they said yes, for a donation. He gave them a tenner.

[url=http://www.thetelegraphandargus.co.uk/sport/sportbulls/9622132.Caisley_is_backing_Bradford_Bulls__survival_battle/Caisley is helping out[/url

Looking for investors & things..
So that's good.

That is also my recollection.

Not sure if its been suggested elsewhere but yesterday it was suggested on twitter that the club re releases 'run with the bulls' with itunes it could be an easy way of generating money from the club

Probably a next phase but still could help depending on how the royalties are divvy'd up