Re: Latest financial situation - all posts here : Tue Jun 26, 2012 3:17 pm  

newwildcat wrote:

Adey - read a lot of your posts and I sense you have some financial acumen (Which is more than can be said for the BoD). What's your confidence level that a buyer can be found and the club saved?

I ought to have a bit by now given what I have been doing for a living for more years than I care to remember!

Its not an objective financial question, though. I guess one of:

1 - Has Caisley been "waiting" for this situation to come in with a bid, with or without co-investors?

2 - Has anyone else been waiting for this situation to come in with either a bid or a proposal for investment in some form, again with or without co-investors?

3 - Will Ken Morrison decide to put something back into the city that started him on his road to fortune?

4 - Will someone like Jack Tordoff, or a Euromillions winner, decide to have a shot at it? JT may be our best hope, I suspect.

5 - Will the Council seek to get involved?

6 - Will thousands of fans be prepared to dob in hundreds of pounds each, or hundreds of fans be prepared to dob in a few thousand each

And regarding whether one of those scenarios will eventuate: I really have no idea.

Re: Latest financial situation - all posts here : Tue Jun 26, 2012 3:23 pm  

1. 60/40
2. 10/90
3. 0
4. 50/50 (remember one rumour he already offered to buy it for a nominal sum but was rejected, dunno if any mileage)
5. -1000
6. No, but if they did, it wouldn't be anywhere near enough.

Re: Latest financial situation - all posts here : Tue Jun 26, 2012 3:25 pm  

Adeybull wrote:

Not now. BACS is history. Can pay for value same day if you have to thru faster payments (in my case, it costs us £3.00 a same-day payment, mind, compared with 33p for next-day payment).

14 July is a Saturday, so there would have to be cleared funds in the account on Friday 13th. Date of ill-omen or what?

That is outside the 10-day timeframe, so unless Caisley and/or his "investors" miraculously appear with either a bid or funding, it seems unlikely to last till then anyway?

I would be surprised if we staged the Broncos game if we didnt have a definite buyer.

Re: Latest financial situation - all posts here : Tue Jun 26, 2012 3:30 pm  

Fingers crossed, one of these comes good for you. I guess it's inevitable that in order to make any new venture sustainable the wage bill will have to be slashed, players sold etc and you will experience a fair bit of pain. I guess the important thing now is that the club survives in some shape or form whatever the cost. Good luck to you all.

Re: Latest financial situation - all posts here : Tue Jun 26, 2012 3:33 pm  

Cibaman wrote:

I would be surprised if we staged the Broncos game if we didnt have a definite buyer.

For sure

Re: Latest financial situation - all posts here : Tue Jun 26, 2012 3:44 pm  

Terrible news - It'll be an absolute disaster for the whole of RL if Bradford disappear. My football club disappeared a year ago so I know exactly what a nightmare it is to have to go through. RL needs Bradford.

Re: Latest financial situation - all posts here : Tue Jun 26, 2012 3:54 pm  

Early Bath wrote:

Cannot understand the worries here. The buyers will want the club debt free which is what they will get. Fly in the ointment may well be the RFL and points deduction or even worse demotion but I cant see that myself. Good luck anyway and I am sure there will be a future.

Debt free???

I'll bow to higher powers, but admin does not disappear the debt?

Re: Latest financial situation - all posts here : Tue Jun 26, 2012 4:00 pm  

Teessidewire wrote:

Correct, however the players could be sold on now and then loaned back to the Bulls for the rest of this season. I would sincerely hope that it doesn't come to that. I suspect that investors were waiting for the club to go into administration before making a concrete move.

If players are bought by other clubs and loaned back to Bradford, who would pay the wages? The administrators have already said that they need 300k for to pay wages by next week to stave off liquidation.
Would/could we have a situation where said players bought would not count on this years salary cap? Didn't this happen when Crusaders pulled out of SL or was it just the quota rule that was relaxed?

Re: Latest financial situation - all posts here : Tue Jun 26, 2012 4:01 pm  

Gurus_Beard wrote:

The "wrath" of the RFL is a misnomer given their very member clubs justify its existence.

Removing historic debt by way of administration will surely assist any movement forward in presenting a relatively clearer platform for newco/investors. I for one, would categorically never invest in a company bleeding money from every pore and an astronomical wage bill of nigh on 300k, almost the highest in the sport. Irrespective of the morality issue behind it (if indeed their is one, this is business not the Red Cross) negating HMRC debts along with modifying the staffing roster seems a pragmatic way forward to me.

Their will be those who verbalise strongly to the contrary, but this is clearly no definitive science but instead a highly personal (and rightly given the sensitivity, social media or any media is not the platform right now I would suggest for any clarification; not withstanding Mr Guilfoyle has made the position clear).

As a poster mentioned a few pages back, this situation wouldn't be as it is if the real debt figure (both historic and wage haemorrhage levels) had been made transparent from the outset. Fire fighting in this situation is potentially easy from the outside looking in because there is no personal level of risk or core facts to work on, merely "I've done this or that before"; it holds little real value.

I have real faith there will be a solution to this that works for everybody from the newco/investors to more critically, the fans, players and sponsors. I would also like to think the RFL will be extremely supportive of a club that has done more in 16 years for Super League than most in terms of lending credibility and positive headlines to the nations media and broadcast partners.

As for Valley Parade - I would happilly play there or even Bierley Church yard as long as the club remains alive, functional and as a credible entitiy in Super League. The semantics of where we play at this stage are the least of our worries.

The more you put in little comments to place the blame at Hood's door, the more and more I find myself thinking that this is Caisley's fault.

Re: Latest financial situation - all posts here : Tue Jun 26, 2012 4:01 pm  

Newco are debt free, although if it involves anyone who took the club down or into admin there would be some issues to address with both the RFL and HMRC.
I still cannot for the life of me see how the RFL weren't complicit in all this, these problems must have been visible to the RFLs auditors?!?!