says admin 10am tomorrow or after hols

minor correction. one poster with a history of starting rumours that turn out to be guff said the above. NOT the bulls site.

Bulls site isn't there an h missing out of site?

They just wouldn't listen would they....

Just like you haven't listened to mats post above?

out of curiosity what is the situation as its all gone a little quite

have the club now managed to secure its long term future?

www1.skysports.com/rugby-league/ ... 6/7791622/

www1.skysports.com/rugby-league/ ... 6/7791622/

Clucking bell admin it's is then!!

I wonder if a certain clothing transport owner is inspecting the club with a view to a purchase - again

Might not be in his interests now the club don't own the lease to odsal!
This hole deal with the RFL has backfired in humiliating fashion for the regime at the club and the RFL, and now it may rule out one of the people who was interested (reportedly) and could save them now.
Feel sorry for the fans, they're £500k was always going to be the tip of the iceberg and only likely to line the pockets of the inconmpetent departing board.
Oh well you live and learn!!

Very much doubt that - unless they go into admin. He wouldn't touch us with our debts and they will be dwarfed by Bradfords if they ever show the real position.

When we went bang we needed about £300k to keep going, but our overall debt was over £1m IIRC. If they need £1.25m then their debt may well be £3, 4 or even 5 million!!!!!

It's a shame they didn't just go into admin and then invest that half mill into the new club - but then that would have meant the directors having to back up their guarantees! #usedandabused!

I was being sarcastic, he always seems involved and then backs out after hopes are raised, but he must know the underlying debt is likely to be much worse, he is not new to this. IMO he is looking for saleable assets after admin, if there is not enough to cover costs if it goes wrong - he walks away

Agreed! It'll be interesting to see how this pans out!

We did try telling them! www.bbc.co.uk/sport/0/rugby-league/18306934

We did try telling them! www.bbc.co.uk/sport/0/rugby-league/18306934

Quote ="deeHell"We did try telling them! www.bbc.co.uk/sport/0/rugby-league/18306934'" Having read the article, who in their right mind would be willing to invest £500k knowing at least another £700k was needed to just to keep the administrators out!!! Has the club received the +£500k from the supporters pledges yet?

Quote ="deeHell"We did try telling them! www.bbc.co.uk/sport/0/rugby-league/18306934'" Having read the article, who in their right mind would be willing to invest £500k knowing at least another £700k was needed to just to keep the administrators out!!! Has the club received the +£500k from the supporters pledges yet?

As many people said at the time, this was inevitable.

The 500k has served only to protect the outgoing Directors from being liable for their personal guarantees and in the process, has conned Bradford fans out of their hard-earned cash, stripped a few overly sentimental players of their winners medals and once again, piled humiliation on the RFL.

It might also serve to make Bradford's newco one of the most unpopular clubs in SL - nobody likes to feel conned.

Odsal?

Pun very much intended!!!

It all has a strange whiff about it.
Is the 750k to keep them going for the remainder of this year (2012), or until the end of the season.
Surely the have some income streams that are still functioning, especially if the figure is for the calendar year, in which case they should comfortably generate this level of income.
What about the current directors ?, are they walking away from the situation having lost the value of any shares or have they seeking some kind of payment for their shares etc.

Over to you mat!

I said it right at the start of all this, it is heading for a Pre-Packed Administration
I am quite sure that the current finnacial situation was known by the new board prior to them taking it on, the numbers aren't too dissimilar to the original figures quoted (£500k within an month and a further £500k soon after to secure short term future) then they were hoping for some external investment to cover the further £700k that has now appeared which is probably the "unknown six figure loan" sum mentioned in the artical.
The fans have been well and truely turned over and both the previous BoD and current were fully aware of this IMO, you cannot be totally unaware of these kind of figures on the level of turnover of the whole of the company.
Makes uncle ted look like santa claus

What a shame..

I take no pleasure in it, but we were crying from the rooftops telling them not to pledge, only to be rebuffed with comments like "this is different, we are a big side" and the like.