Re: Latest financial situation - all posts here : Wed Jun 27, 2012 3:18 pm  

Cibaman wrote:

Still begs a lot of questions, just off of the top of my head:

1) How would Newco be funded for the rest of the season? How would it fund its start up costs and working capital?

2) Presumably season tickets would be void and it would be £20 on the gate to watch predominably juniors being hammered?

3) How long would it take to set up Newco? What would happen during the inevitable void between the existing club folding and Newco starting up? Could Newco actually field a team against London, Leeds, Warry & Widnes?

4) Could a hastily cobbled together supporters trust ensure that it can immediately meet basic obligations such as having adequate insurance, medical cover and support for the players, and the hundreds of things that have to be attended to before a game could be staged?

5) Would the RFL still charge the same rent?

6) When would the decision over the where Newco would be playing next year be taken?

7) How would Newco fund itself during the close season? Dont expect many season tickets to be sold during Oct-Dec, fans will wait as long as possible to see if the club will be around in February 2013.

To be honest this, if true, seems like desparation on the part of the RFL. Desparation to allow the Bulls to complete this season regardless of what happens afterwards, regardless of how weak a team we have to put out. Regardless of how much of a shambles it could turn into. Just to ensure that they do not have to expunge our results from the records and deal with the quirk of Leeds' Magic Weekend fixture.

For the reasons above and more, I don't think the RFL have thought through their statement at all. It may be wishful thinking from them because, aside from anything else, they're stuck with a lease that will get no return if there isn't a sports club around to utilize it. In reality it's very difficult to see how a liquidated Bulls could fulfill their fixtures.

Re: Latest financial situation - all posts here : Wed Jun 27, 2012 3:20 pm  

craigizzard wrote:

For the reasons above and more, I don't think the RFL have thought through their statement at all. It may be wishful thinking from them because, aside from anything else, they're stuck with a lease that will get no return if there isn't a sports club around to utilize it. In reality it's very difficult to see how a liquidated Bulls could fulfill their fixtures.

The RFL will do all in their power for you to fulfill your fixtures , if you dont I dont see how Mr Wood can keep his job

Re: Latest financial situation - all posts here : Wed Jun 27, 2012 3:38 pm  

craigizzard wrote:

For the reasons above and more, I don't think the RFL have thought through their statement at all. It may be wishful thinking from them because, aside from anything else, they're stuck with a lease that will get no return if there isn't a sports club around to utilize it. In reality it's very difficult to see how a liquidated Bulls could fulfill their fixtures.

Depends on the lease????

Does the lease have a covenant that requires a sporting club to be there, or could the RFL lease it out the land to a nice new shiny Tescos????

Just a thought, I know the RFL are a sporting body, but it does not mean they could not gain rent by other means so long as it was permitted???

Re: Latest financial situation - all posts here : Wed Jun 27, 2012 3:40 pm  

Highlander wrote:

The RFL could throw one of their "dispensations" into the mix to help with quota & salary cap for other clubs if they felt player welfare warranted it...

They could but this would help players whilst hindering the new bulls.

Also a cap dispensation still requires a club to have the money to spend.

Re: Latest financial situation - all posts here : Wed Jun 27, 2012 3:44 pm  

bewareshadows wrote:

Depends on the lease????

Does the lease have a covenant that requires a sporting club to be there, or could the RFL lease it out the land to a nice new shiny Tescos????

Just a thought, I know the RFL are a sporting body, but it does not mean they could not gain rent by other means so long as it was permitted???

The council still own the land and the development rights to it

The RFL now own the head lease to lease a stadium at "peppercorn" rent levels

They have been sub leasing it to Bulls at a more "commercial" rate

Re: Latest financial situation - all posts here : Wed Jun 27, 2012 3:50 pm  

but does that mean they can't change the use of the land if say the bulls decide to go to valley parade??

Re: Latest financial situation - all posts here : Wed Jun 27, 2012 3:52 pm  

Not without the council's approval.

Assuming that the head lease has just been taken over by RFL without any changes - because when we had the lease those were the terms we had

Re: Latest financial situation - all posts here : Wed Jun 27, 2012 3:56 pm  

Highlander wrote:

Not without the council's approval.

Assuming that the head lease has just been taken over by RFL without any changes - because when we had the lease those were the terms we had

I would be surprised if the council would make any strong objections if it could turn a profit on any new developments

Re: Latest financial situation - all posts here : Wed Jun 27, 2012 3:58 pm  

Oh yes. As long as the council got a good share, they wouldn't object. Tesco (and all supermarkets) though at Odsal have been & gone.

Logistics/warehousing though...

Re: Latest financial situation - all posts here : Wed Jun 27, 2012 4:45 pm  

National Planning Policy is now in favour of 'sustainable development'. Ignoring the laughable abuse of that term, if there was some business venture that stacked up financially the odds on it getting planning at Odsal would be high, almost certain on appeal.