697 replies to this topic

[Honor James]

RFL statement - Bradford Bulls

The RFL has today written to the consortium which last week tabled an amended offer to purchase the club from the administrator of Bradford Bulls informing them that the nature of their offer remains unacceptable.

RFL Director of Standards and Licensing Blake Solly said: “Whilst we are encouraged by the continued interest in purchasing Bradford Bulls, it is disappointing that the ABC Consortium are still unable to submit an unconditional offer.

“We have been consistent and clear in that our position is we are unable to consider any offer which comes with strings attached.

“The position with Bradford Bulls is identical to that faced by Widnes Vikings and Wakefield Trinity Wildcats, who were taken out of administration in 2007 and 2011, respectively, by new owners without any guarantee as to which competition they would be playing in.

“All enquirers have been informed that the RFL is only interested in receiving offers for Bradford Bulls which are free from any condition pertaining to competition membership or the re-acquisition of Odsal Stadium.

“The ABC Consortium have also been informed that any unconditional offer would also have to be accompanied by a detailed business plan, the identity of all material shareholders and proposed directors and the appropriate proof that the required levels of funding are in place.

“Unfortunately the ABC Consortium have been unable to supply any of the above information, leaving the RFL with no option but to deem the offer unacceptable.”

The RFL is continuing to speak to the club’s administrator following his request for an advance of remaining distributions to meet payroll on August 14.
-ends-

John Ledger
Communications Manager

[gingerjon]

The RFL position seems entirely the correct one.

[Southstander13]

The RFL position seems entirely the correct one.

Particularly if the situation is the same as with Widnes and Wakefield who were purchased without any conditional offers.

[PC]

Slightly different from Widnes and Wakey. The Bulls are one year into a three licence, I can understand why any potential owners would like to know they will see out the licence period before pumping a few million quid in.

Neither Wakey nor Widnes were in this situation.

[Just to be clear]

Particularly if the situation is the same as with Widnes and Wakefield who were purchased without any conditional offers.

Just to be clear, Widnes were not even in Super League. And Wakefield owned Belle Vue giving any new owner a valuable asset so that if things went badly wrong there would always be something of value to sell to recover losses.

The current Bradford club is currently nothing but a Super League licence and a large debt.

Why spend hundreds of thousands on them only to be forced into the Championships when you could instead just let the club die then reform in the Championships for free? The club needs good financial management, not rich fans, and anyone willing to throw money away like that is arguably not exhibiting any.

I am not saying the RFL position is wrong, but it is a different situation to Widnes and Wakefield, and the position of investors in wanting to see out the current licence is not unreasonable.

[Chronicler of Chiswick]

If ABC can't provide a business plan, details of main shareholders and directors or proof of funding, if I was the RFL I'd tell them to go away (well, that's the polite version of what I'd say). If Martyn Sadler's right about what is effectively an emergency SL meeting it's suddenly looking very grim. Just hope I'm wrong!

[gingerjon]

If ABC can't provide a business plan, details of main shareholders and directors or proof of funding, if I was the RFL I'd tell them to go away (well, that's the polite version of what I'd say). If Martyn Sadler's right about what is effectively an emergency SL meeting it's suddenly looking very grim. Just hope I'm wrong!

Quite.

We won't tell you who we are, what are plans are or whether we have any guaranteed money but we want you to ensure us a place in Super League and give us the ground without conditions.

[Lounge Room Lizard]

Welk eine the RFL. ABC dont seem to be that serious or else would do what the RFL have asked.

[OMEGA]

If ABC can't provide a business plan, details of main shareholders and directors or proof of funding, if I was the RFL I'd tell them to go away (well, that's the polite version of what I'd say). If Martyn Sadler's right about what is effectively an emergency SL meeting it's suddenly looking very grim. Just hope I'm wrong!

Exactly, the RFL Directors seem to have this right at the moment and let's not forget that they're also under immense scrutiny now!

If they cave in to some fly by night consortium who don't have the business or financial wherewithal to sustain a strong Bulls franchise and who ultimately go bust 18 months from now then the RFL Directors themselves would not and should not survive either.

For that reason I expect the RFL to stand firm on their demands.

Edited by OMEGA, 01 August 2012 - 02:21 PM.

[Hornetto]

Bradford as an outside bet for the fourth new club in CC1, anyone?

[Lobbygobbler]

Slightly different from Widnes and Wakey. The Bulls are one year into a three licence, I can understand why any potential owners would like to know they will see out the licence period before pumping a few million quid in.

Neither Wakey nor Widnes were in this situation.

As long as Bradford dont go into liquidation then they will be in no different a situation to Wakey or Widnes, ie only administration

[TwoBlues]

Wakefield owned Belle Vue giving any new owner a valuable asset so that if things went badly wrong there would always be something of value to sell to recover losses.

I think you'l find the Bank of Ireland owned,and probably still own,Belle Vue.
'Preposterous' did post the fact when the Bradford saga was at the embryonic stage.

[Steve May]

Just to be clear, Widnes were not even in Super League. And Wakefield owned Belle Vue giving any new owner a valuable asset so that if things went badly wrong there would always be something of value to sell to recover losses.

The current Bradford club is currently nothing but a Super League licence and a large debt.

The Bulls aren't exactly heavy on assets. I'd be reluctant to invest significant money without a guarantee that the SL license would apply at least until the end of the current license period.

If the RFL want to see the Bulls survive they may have to relent on this one.

[JohnM]

I've changed my mind on this, somewhat.I think the RFL have to send out a signal to all clubs to get their acts in order. No free lunches. If Bradford go , then they go.

[Ackroman]

The RFL can't play around with licences and it's assets on a whim, even if the rules say they can. The landscape for success for any sport relies heavily on consumer and sponsor confidence. The RFL obviously understand that, hence the lack of guarantee's.

I know there is an argument that losing the Bulls from SL would see a net loss in fans but this saga is not marketable for the RFL. Currently the game needs to improve sponsorship and create business partnerships. Surely long term partnerships like the Coperative, Gillette and the like far outweigh any contribution to the game by a propped up SL franchise?

Therefore no rule bending please, it's hard enough keeping what we have, never mind undermining confidence in our game by throwing investor money at a lost cause.

[Stevo]

The Bulls aren't exactly heavy on assets. I'd be reluctant to invest significant money without a guarantee that the SL license would apply at least until the end of the current license period.

If the RFL want to see the Bulls survive they may have to relent on this one.

It's a toughie, but the RFL are doing the right thing by not handing over Odsal to an unknown quantity.

I can't remember who posted the idea, but somone suggested that as well as a points deduction, the Bulls should be downgraded as of now to a C grade, which would give them the final 2 years of this license but mean the new owners would have to impress during that period to be awarded a further license.

Perhaps the RFL would also be prepared to offer the consortium an option to purchase Odsal should they be succesful in achieving a license in the next period (i.e. the new owners have proven their ability to run the club well).

[Philm]

.



“The position with Bradford Bulls is identical to that faced by Widnes Vikings and Wakefield Trinity Wildcats, who were taken out of administration in 2007 and 2011, respectively, by new owners without any guarantee as to which competition they would be playing in."

Strange that there is no mention of London Broncos or the Crusaders.

Edited by Philm, 01 August 2012 - 04:10 PM.

[Manx RL]

Strange that there is no mention of London Broncos or the Crusaders.

Why is it strange?

[Steve May]

It's a toughie, but the RFL are doing the right thing by not handing over Odsal to an unknown quantity.

I can't remember who posted the idea, but somone suggested that as well as a points deduction, the Bulls should be downgraded as of now to a C grade, which would give them the final 2 years of this license but mean the new owners would have to impress during that period to be awarded a further license.

Perhaps the RFL would also be prepared to offer the consortium an option to purchase Odsal should they be succesful in achieving a license in the next period (i.e. the new owners have proven their ability to run the club well).

I think the remaining 2 years of the license should be part of any takeover deal. In fact, I doubt that there could be any deal without it. Certainly not one that will involve any significant sum.

I'd keep Odsal out of it for now though.

[Dave T]

Strange that there is no mention of London Broncos or the Crusaders.

why would they mention instances that differed?