Re: Ownership and twists : Wed Mar 26, 2014 8:16 pm
saint at wire wrote:
I am in business but do not have to endure this type of politics involved in RL.
If I asked my customers for £500K to help me stay in business and they said "yes", I'm pretty sure I would have to account for that money and either; give them shares and representation in the decision making or give them security. I would also need to show that financial information including current management accounts and accurate projections and advise what I would do with their money.
It appears that the Directors at the time gave none of these things. For the company to take money like this, it would need to be an unsecured loan with no repayment schedule or a gift. With that amount of money involved, why did the RFL not get involved to protect the interests of the fans?
The RFL is there for the benefit of the game. There is no excuse for it to adopt a "Pontius Pilate" approach by making a decision and then washing their hands of it after the damage has been done by people they vetted and put their trust in.
It is nothing short of disgraceful as they say.
If I asked my customers for £500K to help me stay in business and they said "yes", I'm pretty sure I would have to account for that money and either; give them shares and representation in the decision making or give them security. I would also need to show that financial information including current management accounts and accurate projections and advise what I would do with their money.
It appears that the Directors at the time gave none of these things. For the company to take money like this, it would need to be an unsecured loan with no repayment schedule or a gift. With that amount of money involved, why did the RFL not get involved to protect the interests of the fans?
The RFL is there for the benefit of the game. There is no excuse for it to adopt a "Pontius Pilate" approach by making a decision and then washing their hands of it after the damage has been done by people they vetted and put their trust in.
It is nothing short of disgraceful as they say.
As someone who donated a reasonable amount I expected nothing back, just a hope it would help the club continue. If anyone had to account for it it would have been those running the club at the time, who are no longer in that position. Certainly there was no onus whatsoever on the RFL who I believe have bent over backwards to keep the Bulls in existence. There was never any expectation that I, nor anyone else I would wager, would have any saying in the running of the club. That would be almost, though not totally, a unique arrangement. Not that I am opposed in any way to community run clubs, quite the opposite.