Re: Ownership and twists : Fri Mar 07, 2014 4:11 pm  

Ferocious Aardvark wrote:

Why would the RFL require much, much, exceedingly much less from a new owner making a worse offer, than they did from the previous lot who made a better offer, including paying off ALL trade creditors over time?

The RFL is having to deal with the situation as it is now. After the 3 walked.

Previously, they were doing two distinct things:

One was seeing if potential new owners were fit and proper people. ie. no connections with recenetly failed businesses, evidence of some business abiity etc. The 3 passed.

The same fit and proper assessment will be carried out with regard to any new potential owners now.

The second thing they had to do with regard to the 3 was assess what if any points deduction there should be. It seems the 3 tried to convince the RFL they would pay off creditors over time so there wouldn't be a points deduction. The RFL saw no evidence of such ability (no new cash being introduced). So, 6 points deduction and temporary 'special measures'. So the 3 decided to walk.

Now, they are back to just assessing if new potential owners are 'fit and proper'. The 6 points deduction is done this time. So no further work needed by the RFL on that issue.

So, now, any potential new owners simply have to get an offer accepted by the Administrator for a Club with no debts.

The RFL will have an interest in seeing a sensible business plan. But that is not part of the fit and proper
assessment of individuals.

Re: Ownership and twists : Fri Mar 07, 2014 4:16 pm  

So the best offer gets accepted by the administrator, and all the creditors are guaranteed stuffed to the tune of 100p/£

Fantastic result. I'm really glad that's how it works, thanks for explaining.

Re: Ownership and twists : Fri Mar 07, 2014 5:01 pm  

Wooden Stand wrote:

Now, they are back to just assessing if new potential owners are 'fit and proper'. The 6 points deduction is done this time. So no further work needed by the RFL on that issue.

Done as in it is no longer there? They assessed BB2014 as being unable to pay off creditors so BB2014 was hit with the maximum 6pts?

The club is back with with administrator so (logically) a new buyers ability to pay off creditors needs to be assessed again before points deduction can be decided?

Otherwise there is no incentive for a new buyer to attempt to pay off creditors. Which will seriously annoy creditors and the administrator. It could even be argued that the RFL is blocking the administrators attempts to get the best deal for creditors.

If the administrator has anything in writing from the RFL outlining sanctions in the event of certain scenarios which the RFL have gone back on, the administrators report in 6 months could be uncomfortable for people & organisations.











My only concern with that entire post is I that I have put "logically" and "RFL" in close proximity....

[Bullseye]

Re: Ownership and twists : Fri Mar 07, 2014 5:05 pm  

Re: Ownership and twists : Fri Mar 07, 2014 5:24 pm  

That has been my argument all along, BB2014 weren't going to pay creditors so got a 6pt deduction, if a new owner is willing to pay a proportion of them or maybe all of em, do we get those 6 back or maybe a proportion of them???

Going by the rules (as we keep getting them stuffed in our faces) the RFL wont want a situation where by the new owners come out and say "we where willing to pay back the creditors but due to the process and the pts deduction the RFL blocked this"

Egg on faces and running into their undercrackers comes to mind for me.

Re: Ownership and twists : Sat Mar 08, 2014 1:39 pm  

Rumour has it club has been bought by an investor with some brass to spend "apparently" - not sure how accurate but my sauce is HP brown sauce

Re: Ownership and twists : Sat Mar 08, 2014 2:22 pm  

pulsator2k7 wrote:

Rumour has it club has been bought by an investor with some brass to spend "apparently" - not sure how accurate but my sauce is HP brown sauce

Is this part of the MRS Koukash rumour? Up to this point the favourite with the RFL is......











No not Mr Lamb....... wait for it















Step forward one Omar Khan. You REALLY REALLY can't make this stuff up. As Lord Sutch been reincarnated as Nigel Wood

Re: Ownership and twists : Sat Mar 08, 2014 2:31 pm  

rugbyreddog wrote:

Is this part of the MRS Koukash rumour? Up to this point the favourite with the RFL is......

No not Mr Lamb....... wait for it


Step forward one Omar Khan. You REALLY REALLY can't make this stuff up. As Lord Sutch been reincarnated as Nigel Wood

No nothing to do with Koukash, i dont even know why people started that rumour as all Cummins said that would be good if they were interested lol

I heard it from a friend of my uncles cousins mothers sister-in -laws daughters pet tortoise !! lol

I was on the coach to Hull last night and got a text from a friend who knows someone at the club and they stated "club has been bought, the investor has money to spend"

would like to say its true but dont believe much anymore after the last few years,

oh wel watch this space !!

[Bulliac]

Re: Ownership and twists : Sat Mar 08, 2014 4:12 pm  

Must admit I'm getting lost about which company is which now, but wasn't it OK Bulls in admin and, if so, how does OK buy his old company which he already owns as it wasn't actually sold to MM et al............oh, sod it, wake me up when it's all over...second thoughts, don't bother.

Re: Ownership and twists : Sat Mar 08, 2014 4:17 pm  

He would I suppose just start a new company as the buyer and confuse the hell out of everyone by naming it
OK Bulls 2014 Ltd