From what i have read on these forums and others, and trying to distil everything down to get the facts we can I have come to the conclusions as follows:

The Harris Saga - cos the bulls £550-£650k all to (imo) salve the egos of the Bulls directors who wanted to do anything to get one over on the Rhinos. I deeply suspect if we could unpick everything we could draw a line from there to this sorry day

On top of that directors egos and political games have exacerbated an already precarious position and while I can understand the club wanting to keep its best assets (its top players) they also had a duty to keep the company going and reduce its overheads sooner (i.e. its wage bill) - for another company in another market the failure to do so means people out of work, to do so in a sport means people out of work and has massive implications on the rest of the sport, something that has unmeasurable consequences.

The question is how to proceed - whats fairest for other clubs, or whats best for the sport? The two are almost invariable at odds.

I do feel for the Bulls fans but they as a club have been spending well in excess of their income. It looks like the trophy laden years were won on borrowed money and money they didn't have. IMHO they should be relegated to the division below and helped by the RL to build a successful and solid business structure that lives by its means who could once again grace SL.

Financial fair play should be top of the list for every club, if you can't afford it then you can't spend it and if you do th penalty is relegation and termination of your licence. Positives will come from this for the Bulls and lessons will be learnt from every SL club which will be a good thing.

Not sure if the Bulls will come out of administration but hope they do for the fans, even the big headed morons who constantly have cheap digs at the Giants. Think this could go down to the wire with regards to them being saved so finger nail biting times for the die hards.

Makes me wonder what the rfl licence auditors were looking at. How come this did not come out?
Thought that was the whole purpose of the license system. Wonder what fax fans are thinking.

I am going to say this again for the umpteenth time

The licensing DID pick this out, one of THE biggest names in auditing looked at the Bulls books and said they were fine.

What NO ONE could have forseen, or taken account for, was the Bulls bank pulling their overdraft.
That is what precipitated the Bulls collapse

This is no way, shape or form the fault of the RFL. If anything they have done the best they can to help the bulls, just as they do with any other club.

Code- the def of an overdrarf is spending money you dont have! Bulls were never going to recoup that money! Of course the bank pulled the I overdraft-the bulls had previously had to sell almost the only asset they owned in the shape of odsal-that alone would have set the banks alarms going and it was clear from then that it was all going to s**t. I feel sorry for the players and staff but hey- where was all the rugby league community when fax, Rochdale, donny, Oldham etc were in trouble?

If Bulls do fold who will replace them next season - If anyone?

Many have overdrafts, and loans that they are perfectly capable of servicing but not reducing in a short period

Countless companies have gone to the wall because banks pulled their overdraft facility when the company was previously running well and in profit

I think you are not understanding how the world works

Or the corporate World, at least.

I've just been browsing the threads on the Bulls forum. You've got to feel for the fans, Mick Potter and the players. On a lighter note; I also saw a clip of Brendan Guilfoyle (sp) at the fans forum last night. You'd think a chartered accountant could afford a better syrup than that! Jesus H Corbett! It looks like a skinned kitten!

On the topic of players I see the bulls players are royally being shafted

If anyone from the club reads this / or someone has the contacts to suggest it just think of the PR coup and goodwill to potential recruits of both staff and new fans - if the Giants offered support for training and sent coaching staff over.

Just a thougt

I wouldn't want any of our staff going over there. The bulls hierarchy have got themselves into this mess and should sort it out themselves. The way they and the administrator have acted they deserve no help at all from any club in SL. For the bulls to kick on from this situation I think they'll need brand new owners who've had nothing to do with the situation the club finds itself in at the moment.

The bulls had their overdraft limit decreased due to them selling off Odsal. Their rating changed with the bank because of this and they became a high risk customer who would struggle to pay back the monies owed due to not having the asset of owning the stadium. Poor management and a quick fix has got them well and truely into a mess they may never recover from!!!

Halifax were close to getting in last time... could have our derby back.

featherstone have been the champs in the lower division too

we need to concentrate on our own team at the moment!!!

anyway brian noble is supposed to be taking over for them.

I think the mis-understanding lies firmly in your court.

Banks will not give overdrafts to limited companies without some security, in the form of a tangible asset i.e. Real Estate, in this case the Stadium, after all I'm sure the Directors would not have put their houses up as a guarantee of repayment.

The RFL purchased Odsal in the belief that their money was going to secure the future of the Bulls, but unfortunately the Bank had no other option than to withdraw the overdraft facility when any nhope of being repaid had disappeared.
The RFL have once again proved to be totally incapable of looking at the bigger picture and realise what effect their action would have.

You're mistaking overdrafts for secured loans

The bank DID NOT pull the overdraft because of the lease

They can't sort our team out, never mind anyone else's, if we hadn't been top of the league before this run of 7 defeats out of 8 we'd be at the bottom of the league with London.

I'm not sure they'd take the offer!

The bank pulled the overdraft because it was clear that the bulls were not able even long term to pay off their debts.
The reason the world is in the mess it is is because banks were lending to people who were not able to pay back the money-the banks were lambasted for this and governments all over the world are insisting they don't carry out this type of lending again.
So the bank pulled the plug.

Has Bullman & Bull boy gone too, or is the administrator planning on appointing them to coach the team this Sunday ? - seriously this is getting beyond a joke

Makes us realise how fortunate we are to have sir Kenneth. Also how important it is that we become less dependent on his financial generosity. That's why ticket prices should increase to normal levels next year , and why rhp s role of business development manager is so important.
That said any professional dealings Ive had with the giants on the commercial side I do find them amateurish and too short term focussed. Eg try finding how to sponsor a player on their website.

Try ringing them up....

Yes the bank pulled the overdraft to reduce their exposure

No they didn't do it because of the sale of the lease.

It's that simple.

Either way it doesnt really matter as it looks like the Bulls are on the way out.

Read yesterday that they cant even access training grounds. Bearing in mind they have made redundent a number of people - Who will pick the team and who is in charge of opening the ground on match day and responsible for crowd safety??

I foresee a new Haliford or Bradfax team on the horizon!!

Bradford blue sox?

Lets e-mail Mr Caisley Brearley!!

Its a surefire solution !!