gutterfax wrote:
In short, it's basically certain Bradford Bills fans saying that it's all the RFL's fault that they are up the creek without a paddle and attacking anyone who dares point out that the reasons the Bradford Bills find themselves in this state is 100% down to slap-shod management and piss-poor business acumen.
My take on this saga is:
Bradford's old owners got into debt trying to buy more success, they were bunged a brown envelope of cash by the RFL (under the table) and when they looked like not being able to pay that back, they offloaded their biggest asset to the RFL, the bank narrowed their line of credit, they were going tits up, they shook a bucket, a restaurateur "saved them", he then hocked some of his own properties to "loan" them some more cash, he agreed to sell to a barman and a web based bed broker, they reneged on that agreement, the barman bailed, the bed-broker and his new buddies said they needed to restructure some of the cash flow from the TV deal (which apparently was so they could use this money to buy the club, but not from the restaurateur as he isn't getting any of his money back), the RFL were having no more of this "hand-out" mentality that has become engrained at the club and the Lawyers are now greedily looking at the carcass of what was once an Iconic club, which they can pick the bones clean in a dick measuring contest.
All the while, the poor fans of the Bradford Bills are treated like mushrooms and still expected to dutifully roll up at the Iconic Ground they rent from the RFL every second week to try and stave off relegation, when in reality, they will probably stay up quite easily, IF they can steer clear of liquidation.
Players and fans have started to drift away and the future is looking pretty bleak unless someone is willing to buy the club and immediately inject 2 x 7 figures with little chance of a return.
THE END!
Much as it pains me as a Bradford man your take on the past three years is pretty accurate and makes for pretty lamentable reflection.
Bulls are now a club with enormous debt.
Moore and co indicated £1.5 million.
That must have been at the September point Ok was after his £300k for the club,his shares,whatever.
The only assets a bit of old plant and some nice expensive chairs.
And Goodwill......now that beggars belief that any sort of valuation can be placed there in these circumstances and prudence would say there is no goodwill.
So if annual losses to 31.8.2013 at £1.5 million have continued to now another 6 months on what on earth is the current position?
Regarding debt.
BB2014 will owe HMRC for February?£60 to £70 grand?
Of course they will have collected via Moore and Calverts pay portals in their private business"s online sales and other payments in order to discharge that debt we would hope.
It is the integrity of the sport that the RFL seek to protect.
This sort of regular occurrence in the game does not sit well in the corridors of the senior civil service and Westminster (particularly where a director is a New Labour Man ripe to be shot at)
The whole affair is so murky and complicated with a succesion of
delays,arguments developing everywhere,between governing body,creditors,past owners current recent temporary operaters,to make the position fast becoming untenable.
The requirement to repay 100 per cent of creditors appears past as the 6 points are gone.
Moore and Co clearly did not move quickly enough to satisfy the RFL that they could meet all the unfolding conditions required.
In particular it is cetain that wages are still at ridiculous levels for the past income streams never mind the reduced income streams of this year.
It is noted 3500 season tickets were sold.
A crowd (official)of just 5100 on the super league site for the London match means just a measly 1600 paying custom on the day.
Take an average admission of for arguments say £12 that would give gross (including VAT)receipts of about £20000.
68 stewards were on duty for the Castleford match.It can actually cost £20000 to open the Odsal gates.
The bars made a loss last year and income from that area is bound to be down on a crowd of 5100.
Small sponsorship deals have been announced by Robbie.Probably not enough to even cover his huge salary from July last year.
The whole operation financially is absolute madness.
Guilfoyle (about the only thing I can say to his credit) said to me 16 months ago that the paying of a £220000 a month wage bill was absolutely ridiculous on the income history.
Nothing has changed except income has declined further on account of loss of £650000 sky dosh and inevitably through diminishing crowds and associated sales (bar,food,merchandise)
The great Bullmania brand is desperately wounded and here were 3 men trying against unsurmountable odds to give everything they had to put the club back soundly which would indeed take the 5 years they sought.
The ongoing contracts for SL players beyond this seasom if relegated would certainly mean they lost their houses if they had gone along with this.
At 5000 fans I think the Bulls have about what is the die hardcore.
Some of those fans still demand signings.
What is needed and should have been instigated 18 months ago, is a reduction of Players wages from salary cap level of £1.8 million (including employers NIC)to half that.
Many of the higher paid players are not necesarilly the best.
And several have gone IN ANY EVENT through meltdown.
Several of the best performers so far this year are on sod all compared to some.
The RFL are stupid and complicit(in the Bulls future possible downfall) in suggesting to the administrater that in selling, or getting rid of these higher earners he would not be able to sell the club as easily.Nonsense.
They cannot control the administater"s legal responsibilities with their conditions and rulebook as an owner.No players contracts to be terminated to prospective owners under their rules.Mr Wilson will sell or offload to do whats needed in law.
It is the existence of these contracts unsustainable even over the short term (the RFL have now paid Jan and Feb wages of the players)that ensures the Bulls continue to lose vast sums of £25000 a week.
The club needs more players in the £30 to £40000 salary bracket to those on £100 to £140000.
Of course I will not reveal names but the lower bracket are those on the way up as players.
There is simply no other way forward without Marwans forgotten Great Aunty or brother.
Of course other clubs are right to point out when they hit problems (Widnes for one)they paid only up to half salary cap.
But in steamed Ok with a lot of bluster and fluster and at an early fans forum when asked if he was going to spend up to the cap......"YES SIR"....came the instant reply and he has been good to his word.
And for that enormous gamble the club finished 9th.
And through hints of insolvency have lost Bateman,Kop,Whitehead,now Sammutt,Scruton,Carvell.
The madness of Khan has cost the club dearly.
With this in mind I am (in the interest of survival) pleased the last three have gone.
To be replaced hopefully with youngsters as is happening on loan.
I recall London whooping us with 8 such home grown youngsters last seasom,
For all the salary cap alleged stars.
That should have been OK"s mission.
To survive (with no fear of relegation when he joined)for two years on less income than the rest, with a much slimmed wages bill.
Instead he sustained it and increased it.
And suddenly wondered why a year on he had nothing to pay anyone with and needed a doctor.
That is what is needed more than ever now.Cuts and 2 doctors one the other side of the pennines.
Crowds are down and will continue to dive.
Many have had enough of the circus.
There does not now appear to be any duty to pay the creditors by a NEW owner as the points are taken?
The club could become so embroiled in Legal action
Khan v Moore Whitcut
Moore Calvert Watt (Robbie?)v Big Nige,Rimmer,Solly,HMRC v BB2014 Ltd,HMRC v Khan ,that the rugby could become a side show.
As it is right now.
I somehow think its bluster.
When they get the first Legal bill and the speedway barriers are by then a Nissan Carens I think it will disappear.
Just consider the complexties.Moore in charge of Stadium had hypothetically contracted the work needed to satisfy Health and safety legislation.He cannot cut anymore barriers down as hes gone.What does the administrater do and are the RFL happy THEIR asset is been stripped out?With consent?If not another possible cause of tensions and mistrust?
Who finishes the contract?What was the contract?Murky by the sound of it.
I am glad Moore has gone.
Not a leader.
Shot too many volleys from the hip of a mouth.
Presumptious green call it whatever, but mistake after mistake, his press releases and comment at forum
Ok will not get a penny......privately deal but to blab that?
No points off...(no doubt Solly or Rimmer said something in informal discussion that maybe hinted if this this and this ticked then maybe.)
Liked the sound of Calvert.
Watt a fan too.
But the truth is without substantial personal funds they needed the goodwill of the RFL to act as short term banker and they have now collectively, in all probability, shafted future goodwill to the Bulls from that quarter.
Don't think Rimmer Solly and my old pal Big Nige will be overly concerned at the Bulls situation in quite the same way in future.
The spat may prove the death knell.
And for all the mud now being slung Their way, let us not forget it is not three years yet that Bulls had borrowed (secretly maybe as Big Nige was a Northern fan)£700k, then a Million for a hole with a covenant on it, that prevents development other than what it is and finally throughout the admin period and continuing to this very minute, the Bulls have the RFL to thank for paying those on the park.
Lets not be too unkind there.
We know they appear amateurish but so do the management (successive)of the club.
Looks like Whitcut had secured his £150k from Marc Green for his half of Ok"s ask price.Behind Moores back?Will we ever know.Wonder where the money went.It is indeed precisely the sort of shady dealings that the RFL must have had suspicion about.This thing has evolved....like a dripping tap.
Left undrained they can bring houses down.
Lets hope Marwan fronts it through his broth.
Because right now unless all the SL clubs take over the Bulls (as nearly happened in 2012)its bleak.The numbers are truly frightening and it suprises me not that the three Amigos have run for the hills.All credit to them for steering the Titanic through murky frozen waters of a winter without much income.And making some cuts though not enough.
