Re: Ownership of Club Changes : Fri Jan 31, 2014 12:53 pm  

If the new bulls are still trying to pay their debts then there should be no penalties. But isn't this just kicking the problem down the road?

[Bullseye]

Re: Ownership of Club Changes : Fri Jan 31, 2014 12:57 pm  

The devil will be in the detail I reckon. Will we get the full story? I doubt it.

Re: Bulls complete ownerships change... : Fri Jan 31, 2014 1:05 pm  

bellycouldtackle wrote:

Mat you should not worry about relegation. Your squad is strong with some very talented players. Have a look at the London and Wakefield squads, even if you get a four point penalty you will finish above London and Wakefield with ease.

The squad is better than London and Wakefield's because it's full of players Bradford can't afford. Unlike London and Wakefield who've sold and released a load of players to avoid the financial situation Bradford have got themselves in. Again. Hence the calls of unfairness and the clamour for points deduction.

Re: Ownership of Club Changes : Fri Jan 31, 2014 1:10 pm  

Not an unexpected turn of events, especially when Moore resigned last year, just after registering the new name. I should also imagine that the RFL were well aware of this coming up and probably helped to push through to resolution. Obviously the share issue was a sticking point and I would imagine part of any deals will be to pay back monies owed to Khan et all.

Nothing to see here move along.....

Re: Ownership of Club Changes : Fri Jan 31, 2014 1:21 pm  

We'll if the current owners have paid OK for the club, then moved the club to their own holding company, shouldn't OK be liable for the OK bulls company?

Think the RFL knew about wanting to move the club to another company ages ago that must have been the intention all along, think what a lot of others are missing is that if Ok hadn't agreed to a 50% share of sky money the other clubs would have voted the bulls out of SL which was what we where all told, so ie WTW have made money from the 2 seasons the bulls forfeited money and all so from the 4 games we play them. Other wise we would be out and they would be zip.

Re: Ownership of Club Changes : Fri Jan 31, 2014 1:33 pm  

broadybull87 wrote:

We'll if the current owners have paid OK for the club, then moved the club to their own holding company, shouldn't OK be liable for the OK bulls company?

Think the RFL knew about wanting to move the club to another company ages ago that must have been the intention all along, think what a lot of others are missing is that if Ok hadn't agreed to a 50% share of sky money the other clubs would have voted the bulls out of SL which was what we where all told, so ie WTW have made money from the 2 seasons the bulls forfeited money and all so from the 4 games we play them. Other wise we would be out and they would be zip.

These are both companies - so the shareholders liability is limited to the value of their shares, so OK himself would not be liable for the other creditors in normal circumstances unless it could be shown they were knowingly trading when insolvent.

However what seems to have happened was no agreement could be completed for the new guys to buy the shares of OK Bulls Ltd from OK, but OK Bulls Ltd was insolvent - so an administrator was appointed and he then sold the "Bulls" business to the new company. Any payment for the business would be used by the administrator to pay creditors of OK Bulls - probably tax and suppliers

Re: Ownership of Club Changes : Fri Jan 31, 2014 1:37 pm  

The apparent statement,included in the comments in the Telegraph and Argus report,is particularly interesting.

[Bullseye]

Re: Ownership of Club Changes : Fri Jan 31, 2014 1:53 pm  

http://www.bradfordbulls.co.uk/news/art ... s-position

http://www.bradfordbulls.co.uk/news/art ... s-position

Re: Ownership of Club Changes : Fri Jan 31, 2014 1:57 pm  

Interesting that there appears to have been an article on the Bulls website stating that we have avoided a points deduction( not same article that Bullseye has shared), which was then quickly removed from public view.

All decisions seem to have already been made, so it seems to think the RFL were fully supportive of this move, which seems to have left OK with nothing (other than the outstanding £200,000 council loan, which from memory is guaranteed against Omar)

Seems the planning from the new owners and the RFL have been going on behind the scenes for sometime.

[Pumpetypump]

Re: Ownership of Club Changes : Fri Jan 31, 2014 2:05 pm  

If we avoid a points deduction, we will all have to suck up the fact that we will be the Millwall of Rugby League from now on. Theres no way we can explain this to whippet-breeding, one-street-village, mine-town loons.