Re: Ownership and twists : Wed Apr 16, 2014 11:53 pm
Noble & Honest wrote:
FA I don't think I could put things any clearer for you any more than Northern Relic has.
I doubt very much OK is joined in legal proceedings with RW though I note a press release that suggested he may take that action.
Others have observed they are now back working together.
The business Bradford Bulls could be turned around from horrendous losses and indeed ahould have been if steps had been taken early enough.
If £1.2 million was been withheld over two years I would have done the following.
1.Reduced players wages bill from salary cap £1.8 million to £1.2.By offloading the big earners on well in excess of £100000 a year and engaging more in the up and coming category with everything to prove still.
2.Not set on lots more other backup staff that took wages in total to over £2.5 million.Eg Robbie,Medical staff,pyhsios,conditioners uncle Tom Cobbly and all
3.Not attempted to make money from things that in the event lost nearly £200000 the ill-fated 80"s pop concert
4.Ensured the bars operated where purchases for stock exceeded sales.(I make it up not believe me....funny how RW has a string of failed bars to his previous occupied time.Do a sarch if you do not believe me.
Finishing mid to low table would be all I would have expected given the short change the RFL dished out at September 2012.
Looked at operating costs throughout the business (As Andrew Calvert did and found savings of £400000 could be made)
Head in the Clouds or what he did none of that.
Instead costs ballooned to the point of no return.
Having failed Ok realised he had nowhere to go.
Suddenly accountants lawyers were to be engaged as investors were the RW soundbites.
Given that Sky funding was to return in full by this September of course there was a chance Ok felt even if he was not up to it.others may be able to.And by selling hec would still be owed and get his money back.
Says a lot about the accounting records (or complete lack of them)that OK claims he is owed £1.1 million and the administrater, having had a cursory look to date ,says nearer £400000.
There could be serious charges arising out of any enquiry.
In that situation making things as clear as mud helps dishonest directors.
The timing of all the changes would suggest that as the anniversary of his takeover came about and accounts would have to be produced for Legal reasons it would be a good idea to quit as a director.
Its there fault when things go wrong not the shareholders.
They all resigned almost on block.
Because things were so bad.
Hospital pass thrown out...ever had one?
I am privy to documentation I admit to support what I say.
I shall be representing a creditor hopefully at the creditors meeting.
Which I assure you will not be dull.
Its like been in the stocks if you have ever attended one.
Ok may claim to be the biggest creditor.
And want his own liquidator in.
We will see.
I doubt he has the evidence to support any of it.
Incidently you mentioned that OK was using his other business bank accounts to run the club initially.
That may explain why the lunatic poster on the T & A site Alex (thingamyjig cant remember exact forum name but usually brings up the Viking song)posted that his season ticket money paid showed up on his bank statement as going through "Lister Hotel" another basket case that the Telegraph Argus reported 5 years ago was failing.Ok bailed out.Whitcut flew in.18 months later that dream was also in tatters.
Add to that the strong and persiostent rumour of money laundered finance that may have been supporting the Bulls and the plot just gets thicker and thicker.
There is plenty of that floating around this once fine city.
Have you been in the shop that just sells bottled water yet FA.From the tap.
Hold your fire and let events take there course.
The rollercoaster will still run.
I doubt very much OK is joined in legal proceedings with RW though I note a press release that suggested he may take that action.
Others have observed they are now back working together.
The business Bradford Bulls could be turned around from horrendous losses and indeed ahould have been if steps had been taken early enough.
If £1.2 million was been withheld over two years I would have done the following.
1.Reduced players wages bill from salary cap £1.8 million to £1.2.By offloading the big earners on well in excess of £100000 a year and engaging more in the up and coming category with everything to prove still.
2.Not set on lots more other backup staff that took wages in total to over £2.5 million.Eg Robbie,Medical staff,pyhsios,conditioners uncle Tom Cobbly and all
3.Not attempted to make money from things that in the event lost nearly £200000 the ill-fated 80"s pop concert
4.Ensured the bars operated where purchases for stock exceeded sales.(I make it up not believe me....funny how RW has a string of failed bars to his previous occupied time.Do a sarch if you do not believe me.
Finishing mid to low table would be all I would have expected given the short change the RFL dished out at September 2012.
Looked at operating costs throughout the business (As Andrew Calvert did and found savings of £400000 could be made)
Head in the Clouds or what he did none of that.
Instead costs ballooned to the point of no return.
Having failed Ok realised he had nowhere to go.
Suddenly accountants lawyers were to be engaged as investors were the RW soundbites.
Given that Sky funding was to return in full by this September of course there was a chance Ok felt even if he was not up to it.others may be able to.And by selling hec would still be owed and get his money back.
Says a lot about the accounting records (or complete lack of them)that OK claims he is owed £1.1 million and the administrater, having had a cursory look to date ,says nearer £400000.
There could be serious charges arising out of any enquiry.
In that situation making things as clear as mud helps dishonest directors.
The timing of all the changes would suggest that as the anniversary of his takeover came about and accounts would have to be produced for Legal reasons it would be a good idea to quit as a director.
Its there fault when things go wrong not the shareholders.
They all resigned almost on block.
Because things were so bad.
Hospital pass thrown out...ever had one?
I am privy to documentation I admit to support what I say.
I shall be representing a creditor hopefully at the creditors meeting.
Which I assure you will not be dull.
Its like been in the stocks if you have ever attended one.
Ok may claim to be the biggest creditor.
And want his own liquidator in.
We will see.
I doubt he has the evidence to support any of it.
Incidently you mentioned that OK was using his other business bank accounts to run the club initially.
That may explain why the lunatic poster on the T & A site Alex (thingamyjig cant remember exact forum name but usually brings up the Viking song)posted that his season ticket money paid showed up on his bank statement as going through "Lister Hotel" another basket case that the Telegraph Argus reported 5 years ago was failing.Ok bailed out.Whitcut flew in.18 months later that dream was also in tatters.
Add to that the strong and persiostent rumour of money laundered finance that may have been supporting the Bulls and the plot just gets thicker and thicker.
There is plenty of that floating around this once fine city.
Have you been in the shop that just sells bottled water yet FA.From the tap.
Hold your fire and let events take there course.
The rollercoaster will still run.
Did you spot the glaring error through my failure to proof read?
My point 4 of the way to achieve breakeven. Sales from the bars should not have been exceeded by purchases.
Whenever did any businessman worth his salt pay say a £1.50 for the price of a pint from his wholesaler and sell it for £1.25.
Incidently the Bullsbar was selling beer at £1.20 a half and £2.80 a pint I am told.Surely a half should have cost £1.40?
I have seen accounts.
I make this up not.
Lunatic Ok.
