Beltin , while he's a handsome chap hes not a patch on me hahahaha

Out of interest should you be allowing him to do so - a few people seem to be naming names on here at the moment

Just curious, so that we can all have a dib if it's not a problem

Ok, so looking for a brief explanation from any business minded folk here.
If it is true that DB is looking to take the Club into administration & then buy back debt free, is this a) within law presumably & B) is morally corrupt IMHO as a means to avoid debt/renage on paying staff/creditors etc.

Also, is there also the possibility that the RFL would 'NOT' accept him as 'fit & proper' owner to run a RL Club during the admin process ?

Hopefully

Well surely the guy taking it into admin can't then buy it back - and if so who from suppliers, staff and fans would trust him ongoing

That couldn't possibly happen surely

I didn't suggest it, others here are saying that is the case, however I ask, is that even possible ? I would have thought not !

Its possible i worked for a company that did it twice

If you wanted to trawl through the Bradford forum you would find the answers to all these questions.
Basically they can go into Admin with a 'friendly' Administrator and do a £1 buy back. The problem is that the Administrator is bound by law to get the best deal for the Creditors and you can then get the case of someone offering a better deal than e.g DB. This seems relatively simple with a possible twist, but do-able. You now get the scenario whereby the Administrator prefers one buyer but then the RFL refuse to accept them as fit and proper. At this point you have a bit of a stalemate. All this time the clock is ticking towards next season. Once the buyer is selected you have the issue of TUPEing across staff and players.
And then before you start the season you have penalties imposed by the RFL and you also need to find new suppliers as the old ones don't want to be twice bitten.
The bottom line is if DB wants out then you have to hope he finds a buyer. If he decides to go around again hope that he doesn't want to use the Admin route to wipe any debt.
Good Luck.

Very interesting, thanks for explaining how it works.

Just a thumbnail explanation. We have 3 or 400 pages on our forum.

Yes I know, that's why I thank you for your concise explanation, I looked at the thread and didn't fancy trawling my way though it.

The club for me is undertaking a full root and branch streamlining operation as anyone would do given that the team did not finish high enough on the pitch to trigger the + £1 million of central funding next season, cutting the cloth accordingly to ensure that liabilities (players contracts for 2019) it can no longer afford are removed and it therefore can continue as a going concern with the reduced revenue levels, not to mention to make it a more attractive proposition with out the said liabilities for any potential investors.

Necessity now dictates, and the business plan surely is that Sporting Club Leigh will have to be a PT operation for 12 months.

I believe contracts have started to be offered for next season, including to one player from St.Helens who made his debut on Sunday.

I’m not privy to the ins and outs of the club like some on here, I have and always had mixed views on DB and previously questioned even when things were going well what would happen to us should he walk away (again), but hopefully continuing as a going concern even if PT has to be a step in the right direction.

It would be interesting to see that Business plan.

As for investors do we know what type of investors DB is looking for, full take over or additional help?

Wasn’t there a comment somewhere about us possibly having to become a community club with DB putting £100k in the pot?

Has the man with the Jaguar lost interest?

Was this the same man with £120M buying LSV?

Is there any merit on Mo’s supporters (small) investment scheme? How big a take up would this be? And how much are we talking?

Wonder what the funding gap between PT and FT is?

What if for those who could afford it if the club introduced a ‘Silver Lining’ season tickets costing say £500? Would there be any takers?

I know there are already avenues for supporters to ‘donate’ monies to the club, and I’m in no way knocking those. And I would have donated to the player fund on Sunday had I known about it.

PS Harold the above aren’t aimed at you specifically just me wondering where we’re going, how and who’s taking us.

That might suggest that the club has identified a sustainable way forward and is activating it.

Great questions , all of them and I wish I had the answers but sadly I do not.

Atomic may know more about the £120 million offer as I heard it first on here , from him.

What I do know about DB is that he can change his mind at the drop of a hat. Sadly.

I am absolutely staggered by this rumour (I won't call it news as it is not official, not because I don't believe it). It's not so much that the club is in a position to offer a contract (although that is somewhat surprising), but that there is someone out there who would even give Leigh a moment's consideration given the debacle we are currently experiencing! They must have been given some pretty firm assurances that they we in a position to offer contracts and will remain so. It also seems to fly in the face of trying to argue that the club cannot afford to meet its existing contractual commitments when it's entering into new ones.

Anyway, it surely implies that DB is staying on, unless some mystery wealthy backer has suddenly emerged from the woodwork!

All this true meeting yesterday and outcome is only rfl money will be used on players so we will only have who we can get unless we get someone wins euro millions

TBH, I hope you get sorted out sooner rather than later.

As a Bradford fan, I know that it's the uncertainty that is the worst part. Still, you've got a decent ground and a lively supporter base. It may take a few years of belt-tightening to get the books balanced, but I'm sure there'll still be a club for you to support at the end of it all

The offer for the stadium was £65 million, that was declined as in buy all or nothing. £122 million was then put on the table which included the club. Lets not beat about the bush. DB holds 56% of Leigh Centurions,he doesn't hold 56% of the LSV.

Ball still in his court were the Leigh Centurions are concerned. But thats all.

Some sound knowledgable posts at last, my only query is that Tuupe is not applicable to contracts just Paye but I am not sure on that and is not applicable to an admin sale otherwise newco has the same unsustainable liabilities

I am pretty sure that players contracts / Money has to be fulfilled, if i remember rightly there was a Test case in football where it was deemed lawful that clubs who went into admin the receivers had fulfill historical contacts of the players in full (classed as football creditors ) whilst other creditors would only receive a nominal amount should the receivers raise enough funds.

If the same applies here i would assume the players would be asked to enter into some form of CVA, this is all assuming the club needs to go into admin

Not too sure it has to be fulfilled but my understanding is the administrators will usually class an employee as a preferred creditor, and they therefore get paid, think there’s a limit though on how much with regards to arrears and this may be why the Footballers went to court? Don’t know of the Football case though so I may be wrong…………..and about everything else too, it won’t be the first time nor the last.

Not sure how TUPE would work if all contracts are either at an end or voided.

Ken Bates did exactly that with Leeds Utd, with the administrator paying the local businesses something like 5p (I can't remember the exact figure) in the pound for thousands that they were owed. This is one of the main reasons that I never went to fooball games for a lot of years, and have only started going to the odd game (3 in the last two years).

The only issue with it is is that any assets you have get sold into the deal, but the good news is that you don't own your own ground and there is very little other assests (Ken sold the Elland Road some time before Leeds ended up in administration - go figure).

So potentially from a Leigh RL perspective this could be a good thing. Also from DB's perpective this could be good for him as well, in that at the moment he will just have to right of the debt owed him by the club to find a buyer, but having gone into admin he might get say 5-10p in the pound back after any assess are sold. Leigh RL then get to start again from a clean sheet either with DB or someone else in charge (if someone can be found to come in). The only real loses are the companies/individuals that are owed money by the club.

So administration may be a good thing for you, but has been pointed out by the Bulls fans all bets are off given that the administrator is trying to get the best deal possible for the creditors.

The down side of that being, that most of these companies and individuals are locals, who sponsor the team. Any future owner would find it somewhat difficult to obtain sponsorship from the said companies and individuals.