Peter Hood says Bulls on brink of going bust. : Tue Mar 27, 2012 6:27 am  

Clearly we have to start talking about this story in the T&A http://www.thetelegraphandargus.co.uk/n ... _chairman/

Clearly we have to start talking about this story in the T&A http://www.thetelegraphandargus.co.uk/n ... _chairman/

Re: Peter Hood says Bulls on brink of going bust. : Tue Mar 27, 2012 6:30 am  

More about this here http://www.thetelegraphandargus.co.uk/s ... bombshell/

More about this here http://www.thetelegraphandargus.co.uk/s ... bombshell/

Re: Peter Hood says Bulls on brink of going bust. : Tue Mar 27, 2012 6:32 am  

Well it doesnt look good. £100 from every supporter?? I just dont see it happening and something doesnt add up. I understand the overdraft being reduced, but we should have known what and when we had to pay to the rfl.

Re: Peter Hood says Bulls on brink of going bust. : Tue Mar 27, 2012 6:46 am  

loving hell.

That's not the sort of thing you need to see first thing in the morning

As I'm not that knowledgeable when it comes to these things, but can't we just go bust and form a new company? Like London and Crusaders did?

Re: Peter Hood says Bulls on brink of going bust. : Tue Mar 27, 2012 6:53 am  

What the hell is going on? I thought the lease sell-off was keeping us floating. It's a hard pill to swallow when Hood has been saying 'we're OK' for so long. Answers please...

No chance of stumping up an extra £100. Take your cap along to the bloke who signed Harris, Peter...

Thanks for the memories.

Re: Peter Hood says Bulls on brink of going bust. : Tue Mar 27, 2012 6:54 am  

Hope you guys can get this sorted!

Re: Peter Hood says Bulls on brink of going bust. : Tue Mar 27, 2012 7:00 am  

They're approaching members and sponsors but no mention whatsoever of the shareholders. To ask people to put up money for a business owned by others and which they board say will go bust in a fortnight is cloud cuckoo land.

How did the club owe the RFL what now appears to be the entire sum of the sale of the lease?

Why have the Royal Bank of Scotland lost faith in the Bulls despite what appears to be a massive overall reduction in debt?

The only hope I can see is to enter administration.

Re: Peter Hood says Bulls on brink of going bust. : Tue Mar 27, 2012 7:04 am  

Problem is, if we enter administration, we lose all our best players to clubs at cut fee prices.

it won't matter how much they have left on their contract, everyone will be available!

Re: Peter Hood says Bulls on brink of going bust. : Tue Mar 27, 2012 7:13 am  

I cant see fans putting their hands in their pockets (even if if they can afford to do so) without the club giving a lot more disclosure about the financial situation. Its all just too sudden. We've known for a while that the club is strapped for cash but the impression has been given that the financial situation was just about manageable.

Realistically, the club are not going to get anything like £1m from the fans. The 10,000 fans at £100 each equation doesnt allow for the number of families and those on very low incomes, kids and OAP's. £100,000, perhaps but not much more. And if £500,000 to £1m is what's needed to keep the club afloat then it would seem like throwing good money after bad.

Re: Peter Hood says Bulls on brink of going bust. : Tue Mar 27, 2012 7:14 am  

Are we for sale for £1m? Do have to wonder if someone came in and said I'll take it off your hands for that price what the current board would say............