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#81 hindle xiii

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Posted 02 August 2013 - 06:40 AM

All is well... I think.


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#82 Ant

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Posted 02 August 2013 - 10:49 AM

Good.

#83 Rob

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Posted 02 August 2013 - 12:12 PM

I'm gobsmacked at the amount of money he's ploughing in. I didn't think he was that rich! Good on him. I hope this a sign of his confidence in the Bulls as a business. He's been in the job long enough to have a good grasp of the figures by now. If he's put in a chunk of money this size fully expecting to get it back then it's a very good sign.

#84 Konkrete

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Posted 02 August 2013 - 12:23 PM

I'm gobsmacked at the amount of money he's ploughing in. I didn't think he was that rich! Good on him. I hope this a sign of his confidence in the Bulls as a business. He's been in the job long enough to have a good grasp of the figures by now. If he's put in a chunk of money this size fully expecting to get it back then it's a very good sign.

Agreed.

 

It says release of equity in his properties, so I take it that this means he's mortgaging them.  It's also likely to be a directors loan rather than a cash donation.  That's no bad thing though as it makes it even more important that he makes it work.  Like you say, he obviously sees the potential in the longer term.  Get through next season outside of the bottom two, and survive the final season at reduced Sky money and it should be good from then  on.


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#85 DAZROVER1985

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Posted 02 August 2013 - 12:49 PM

So has he basically loaned money from the bank to cover wages, what about when that dries up.

#86 Dave T

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Posted 02 August 2013 - 01:30 PM

So has he basically loaned money from the bank to cover wages, what about when that dries up.

Not really. He has used his personal assets to free up finance from the bank, to cover the shortfall for the next 2 years when the funding is reduced. It basically looks like his investment is £450k per year - which isn't too bad considering they are on half central funds, which suggests that they are losing out on as much as £600k per year. 

 

From 2015 if they are on full central funding and they have only required £450k a year to cover this, then it suggests the business will be in a decent shape.



#87 Wolford6

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Posted 02 August 2013 - 01:34 PM

We need a major pop concert at Odsal.


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#88 DAZROVER1985

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Posted 02 August 2013 - 02:41 PM

Not really. He has used his personal assets to free up finance from the bank, to cover the shortfall for the next 2 years when the funding is reduced. It basically looks like his investment is £450k per year - which isn't too bad considering they are on half central funds, which suggests that they are losing out on as much as £600k per year.

From 2015 if they are on full central funding and they have only required £450k a year to cover this, then it suggests the business will be in a decent shape.

hes funding the remainder of this year tho not the full year, so next year would be nearer the 700k mark. They could even need more if revenue continues to drop with falling crowds plus they aren't certain to be in the top division come 2015 with 2 teams getting relegated

#89 Dave T

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Posted 02 August 2013 - 03:18 PM

hes funding the remainder of this year tho not the full year, so next year would be nearer the 700k mark. They could even need more if revenue continues to drop with falling crowds plus they aren't certain to be in the top division come 2015 with 2 teams getting relegated

He also states that this funding has taken longer than expected, and the fact that they are behind on payments now suggests that it is not just from now that he is funding. 



#90 DAZROVER1985

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Posted 02 August 2013 - 03:55 PM

He also states that this funding has taken longer than expected, and the fact that they are behind on payments now suggests that it is not just from now that he is funding.

previous wages had been paid as far as I'm aware tho, so he must of been planning like you say to raise funds as he knew there was going to be a shortfall. But he must of known about this shortfall when he took over unless he projected a higher revenue.

#91 Dave T

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Posted 02 August 2013 - 04:33 PM

previous wages had been paid as far as I'm aware tho, so he must of been planning like you say to raise funds as he knew there was going to be a shortfall. But he must of known about this shortfall when he took over unless he projected a higher revenue.

There has been nothing to suggest that this wasn't a planned investment (apart from the non-payment of wages last week - but all the noises are that this was due to this delay).

 

When he took over the club maybe this was his commitment - that he would pump in a decent amount to cover the lack of central funding - to prove himself maybe.



#92 indomitable

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Posted 02 August 2013 - 06:46 PM

Income to the Bulls has been raised internally by various events, and much more use of internal facilities. The main cause of the recent shortfall is without doubt revenue from home fixtures. A club which only receives half its Sky income is bound to have problems- Bulls small squad is certainly due to this. Too go 8 weeks without gate revenue makes maters all that much harder. If the side can keep the gate open of a top 8 place has they have a number of home fixtures outstanding.



#93 Ackroman

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Posted 03 August 2013 - 08:29 AM

Being a common sense sort of bloke there's 2 scenarios. He knew his £150k initial purchase was a drop in the ocean and this current investment was planned.

or

He got caught with his pants down and is now having to beg borrow and steal to cover everything.

The circumstantial evidence kind of points at one of the above.

#94 Konkrete

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Posted 09 August 2013 - 07:02 AM

Another very big sponsorship deal announced today with Bartercard. Six figures for several years apparently.
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#95 indomitable

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Posted 09 August 2013 - 08:18 AM

Looks like an excellent excuse for RL to do nothing,especially regarding Huddersfield and equal funding.



#96 Dave T

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Posted 09 August 2013 - 08:59 AM

Another very big sponsorship deal announced today with Bartercard. Six figures for several years apparently.

good stuff

#97 League Express

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Posted 09 August 2013 - 09:03 AM

BULLS BOOSTED BY BARTERCARD PARTNERSHIP

The Bradford Bulls have unveiled a creative new sponsorship deal, announcing the UK’s largest business-to-business trade exchange, Bartercard, as an official partner for the coming 2014 season.
The innovative sponsorship deal will see the Rooley Lane Terrace renamed ‘The Bartercard Terrace’, while the Bartercard name will also feature on the first team’s home and away shirt.
Commenting on the sponsorship, Omar Khan, the Bulls Chairman, said: “This is the biggest deal of its kind in Super League and it further secures the future of the club for the next few years.  The investment I have made this week will keep the club secure moving forward and underlines our strong position.
When we took over the club, almost a year ago, we said we would be looking for significant investors and partners. I also promised that this would be a Community Club and shortly we will be releasing shares that the Bradford community and the Bulls supporters will be able to purchase. The Bartercard partnership is something our Deputy Director Robbie Hunter-Paul has helped secure since his return and we are delighted to be able to announce it today.”
Hunter-Paul added: “We are delighted to have signed this partnership with Bartercard. Bartercard has a strong record in supporting businesses across the UK and enabling them to thrive. We believe the company is an excellent fit for the Bradford Bulls.
“This agreement further enhances our Sponsorship Portfolio going forward and we are focussed on putting a team together for next year that will be in a position to compete with the best in the game. We have some exciting times ahead and there will be more signings to announce shortly. Season tickets will be available in September and the fans will be able to purchase these knowing the club is in the strongest position for many years.”
Simon Barker, Bartercard UK CEO, says: “Everyone at Bartercard wishes the Bulls the best of luck as they attempt to make the Play Offs' this season and look forward to continuing our support for the team throughout the season next year.”
Bartercard’s unique product is an alternative source of business finance aimed primarily at small and medium sized enterprises, which make a significant contribution to the UK economy but increasingly struggle to secure funding via banks.


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#98 hindle xiii

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Posted 09 August 2013 - 09:04 AM

Link

 

It's great news.

 

Although it does seem a little bit odd after yesterday's story here about needing future investment. Well, it seems we had something lined up. Talk about not giving the game away, bloody politicians.


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#99 Bulliac

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Posted 09 August 2013 - 10:14 AM

previous wages had been paid as far as I'm aware tho, so he must of been planning like you say to raise funds as he knew there was going to be a shortfall. But he must of known about this shortfall when he took over unless he projected a higher revenue.

I think there may have been a bit of naivity when they took over. Expecting all of the previous 10.5k ticket holders, who'd bought at reduced rates, to buy at full price was always going to be 'wishing on a star', in my opinion, especially given the state of the economy locally, where many quite simply couldn't afford it. The current C6.5 - 7k is, more or less, in line with the number from previous years, before the cheap rates came in, and pretty much what most fans would have expected imo. I don't think the fixture list, with a big gap of eight weeks between home matches at one stage, did them any favours either - and surely they must come up with something better than that in future.

 

On the sponsorship front, with the latest Bartercard deal, we now have all four sides of the ground with a sponsor's name on it, and added to the number of other events going on around the ground, this has all shown a real sense of them being able maximise what they've got. The owners have certainly given the impression of having an eye for business, which must be to the good of the club in future.


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#100 808tone

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Posted 11 August 2013 - 11:34 AM

Do the Bull's get much support from the Muslim population in Bradford ?






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