That is correct, as far as i know.
The penalty was agreed so that the Bulls could stay in a Licensed competition. To then move the goalposts and re-introduce relegation IMO makes the whole thing look shambolic. It leaves the Bulls well behind the eight ball for what could be a make or break 2014 season for a number of clubs in the league.
Mr Khan probably had no other option than to accept those terms, but I feel that the money should have gone to the creditors of the old company, not be spread between the other Super League clubs. That left the Bulls, in effect, even worse off.
If I remember correctly, Mr Khan suggested these terms.
The trouble is, while I kind of agree with the points about the goalposts being moved and it being unfair, they should have had no funding this year and received the full amount next year. This was spread out over 2 years to make things easier. OK is still having to put the same amount of money in, but over 2 years rather than all this year