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Bradford Bulls - Under New Ownership (Merged threads)

Super League Bradford Bulls

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66 replies to this topic

#41 Derwent

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Posted 25 March 2014 - 07:14 AM

It seems Lamb's consortium have now pulled out of the bidding after being asked to show proof of funds. Back to square one then.....

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#42 Just Browny

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Posted 25 March 2014 - 07:23 AM

and we didn't moan about it


!!

I can confirm 30+ less sales for Scotland vs Italy at Workington, after this afternoons test purchase for the Tonga match, £7.50 is extremely reasonable, however a £2.50 'delivery' fee for a walk in purchase is beyond taking the mickey, good luck with that, it's cheaper on the telly.


#43 The Parksider

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Posted 25 March 2014 - 07:36 AM

The RFL should come to some decision very quickly, otherwise many Bulls supporters will be lost to the game, and reading the attendance figures so far this season the game cannot afford to lose any more spectators. Wakefield have been set a limit of 5thousand, and I cannot see London reaching the 5k figure. Not long ago the game looked to be reaching an average of 10 thousand per Super League game, and while there as been an increase at Salford, even their, 10k appears beyond them, and one also notices Catalans attendances are on the wane.

 

Not long ago we had Licensing that "failed" now we have "jeopardy" and as you say crowds in the relegation zone are well down. In the first 14 relegation matches where Catalans, Cats, Bulls, London and HKR are struggling for wins crowds are down 1,000 a match on last year.

 

Can't see Bulls supporters being "lost" to the game altogether though, like most fans they don't want to pay out for misery, it's supposed to be entertainment.

 

The interesting thing for me is that a number of people say that licensing has meant potential rich owners do not want to buy championship clubs, as though they are queuing up out there to buy potential SL clubs. Well it would seem they are not.  I know nothing about Mr. Lamb but if he is a good businessman who has offered to run it to balance the books each year then isn't that something??



#44 Johnoco

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Posted 25 March 2014 - 07:47 AM

It seems Lamb's consortium have now pulled out of the bidding after being asked to show proof of funds. Back to square one then.....

That's just great.

No I don't care if you're if you're into different bands

No cause for so much hatred, I'm just a different man

Pull off that cover, I will too, and learn to understand

With music deep inside we'll make world unity our plan

 

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#45 EastLondonMike

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Posted 25 March 2014 - 08:38 AM

What an idiot. Reckon Mrs K might get a phone call now then..


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#46 Johnoco

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Posted 25 March 2014 - 08:42 AM

How did they get so far without providing at least some proof? Can I put in a bid and just claim to be quids in?

No I don't care if you're if you're into different bands

No cause for so much hatred, I'm just a different man

Pull off that cover, I will too, and learn to understand

With music deep inside we'll make world unity our plan

 

7 Seconds -Walk Together, Rock Together


#47 Amber Avenger

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Posted 25 March 2014 - 08:45 AM

What an idiot. Reckon Mrs K might get a phone call now then..

 

Not according to the local paper - it's either Mark Green (who is already owed money by the club), or Park Avenue (!) http://www.thetelegr..._twist_in_saga/

 

Mrs K put in the lowest bid of the lot according to League Weekly.


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#48 EastLondonMike

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Posted 25 March 2014 - 08:49 AM

Im sure if the funds were there Lamb would have been able to show the RFL proof, if not on the day requested, certainly within a day or two.

Back to square one then.


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#49 Red Devils PAW

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Posted 25 March 2014 - 09:22 AM


Could someone enlighten me on who is paying the administrator and has he 'earned' more than Guilfoyle,yet?

I haven't checked the timescale but this one appears to be dragging out even longer.

I can only sympathise with coaching staff,players and supporters.

Is there no end to this mushroom syndrome?

Ability is what you're capable of doing. Motivation determines what you do. Attitude determines how well you do it


#50 hindle xiii

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Posted 25 March 2014 - 09:39 AM

Could someone enlighten me on who is paying the administrator and has he 'earned' more than Guilfoyle,yet?

I haven't checked the timescale but this one appears to be dragging out even longer.

I can only sympathise with coaching staff,players and supporters.

Is there no end to this mushroom syndrome?

This saga is not only a pisstake but a shitake...


2826856.jpg?type=articleLandscape

 

On Odsal Top baht 'at.


#51 Derwent

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Posted 25 March 2014 - 10:11 AM

Could someone enlighten me on who is paying the administrator and has he 'earned' more than Guilfoyle,yet?
 

 

Nobody is paying the administrator yet. He takes his fees out of the money received for the sale of the business, so it is the creditors who ultimately pay the administrator, e.g. if he sells the business for £300k and his fees are £50k then he takes his money and the rest is distributed to the creditors.


Workington Town. Then. Now. Always.


#52 The Parksider

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Posted 25 March 2014 - 10:36 AM

Nobody is paying the administrator yet. He takes his fees out of the money received for the sale of the business, so it is the creditors who ultimately pay the administrator, e.g. if he sells the business for £300k and his fees are £50k then he takes his money and the rest is distributed to the creditors.

 

Shurely shome mistake? In my experience it's:-

 

If he sells the business for £50k and his fees are at least that then he takes his money and the creditors get nowt.

 

Is there some jockeying for position here Derwent. Are they all waiting whilst they can buy it for £1.



#53 Amber Avenger

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Posted 25 March 2014 - 10:46 AM

Isn't the last administrator of the Bulls in 2012 amongst the list of people owed money by the current club?


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#54 Red Devils PAW

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Posted 25 March 2014 - 11:25 AM

Nobody is paying the administrator yet. He takes his fees out of the money received for the sale of the business, so it is the creditors who ultimately pay the administrator, e.g. if he sells the business for £300k and his fees are £50k then he takes his money and the rest is distributed to the creditors.


Thanks for that.
I read your reply and then read a local press report and it seemed the administrator was owed money from a game following one of the last takeovers.It also hinted at a dispute as to how much would be given.

http://www.thetelegr...in_liquidation/


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#55 Derwent

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Posted 25 March 2014 - 12:02 PM

Shurely shome mistake? In my experience it's:-

 

If he sells the business for £50k and his fees are at least that then he takes his money and the creditors get nowt.

 

Is there some jockeying for position here Derwent. Are they all waiting whilst they can buy it for £1.

 

 

If the sale of the business assets doesn't raise enough to pay his fees and the creditors then the administrator has to come to an agreement with the creditors over how much he will actually be paid. Could be all his fees, could be 50%, could be 25%, depends on the circumstances.

 

In so far as jockeying for position is concerned, I think its important to understand that they are not bidding for a going concern business (OK Bulls Ltd) but for the assets owned by that business. You would realistically only get it for £1 if you were buying the business and taking on all the inherent liabilities of that business. Nobody is prepared to do that in this case as it would mean committing to paying all of the creditors.

 

The thing you need to remember here is that to the administrator, on behalf of the creditors, cash up front is king. Bidder A could offer £250k purchase price with no further investment in the club promised, Bidder B could offer £100k but a promise to invest £1m in the club afterwards. So even though Bidder B would be the best long-term solution for the club, Bidder A would be the administrator's preferred bidder as he's really not concerned with how the club is managed after he's sold it, he's focused purely on realising the maximum amount of cash for the current creditors. This is, I assume, why the Koukash bid was turned down as it was the lowest in terms of actual purchase price.

 

This is where the administrator and the RFL have completely different aims. The administrator is only concerned with realising the maximum amount of cash now and couldn't care less what happens after that, the RFL are more concerned about the buyers having enough cash to invest over the longer term to ensure the future viability of the club. There's an obvious conflict, which is probably why things are taking so long to resolve.


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#56 GIANTSTRIDES

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Posted 25 March 2014 - 03:19 PM

It's a sorry state for the Bulls to be in, As someone has said some of them are desperate for an owner to be announced, That's totally understandable of course, the most disappointing thing as i see it is that , The man who obviously has enough money to buy it with no problem, seems to want it the least despite all his talk.

 

If i were a Bulls fan i'm not sure i would want someone who obviously wants it for as little as poss, ( quite normal ) but it hardly leaves you thinking he is a big RL fan, Does he really want to see the Bulls back where they have been, or does he see an opportunity somewhere, If he does, then i hope that is to offload Odsal and build a new stadium.

 

No one seems to give much thought to the people who have helped the Bulls in the past and are now owed money, None of the prospective buyers seem prepared to pay them anything ,if they can help it,

 

None of this is the fans fault, I wish MK would buy them, pay for them, Settle off the debts and take the club forward, It doesn't fill me with confidence when he seems to be prepared to put up less money than the other bidders, but then again i might feel differently if i was paying, I would certainly feel better as a Bulls fan if i knew the new owner ( whoever that turns out to be ) made at least an effort to be fair with the people who are owed. Maybe that's what the Admin is insisting on.


Dont expect anything from a pig but a grunt

#57 Ackroman

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Posted 25 March 2014 - 05:12 PM

The best bet for a purchaser is to ignore the current state of the club and consider its future. That means letting it go to the wall.



#58 stimpo-and-kat

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Posted 25 March 2014 - 05:59 PM

It's a sorry state for the Bulls to be in, As someone has said some of them are desperate for an owner to be announced, That's totally understandable of course, the most disappointing thing as i see it is that , The man who obviously has enough money to buy it with no problem, seems to want it the least despite all his talk.

If i were a Bulls fan i'm not sure i would want someone who obviously wants it for as little as poss, ( quite normal ) but it hardly leaves you thinking he is a big RL fan, Does he really want to see the Bulls back where they have been, or does he see an opportunity somewhere, If he does, then i hope that is to offload Odsal and build a new stadium.

No one seems to give much thought to the people who have helped the Bulls in the past and are now owed money, None of the prospective buyers seem prepared to pay them anything ,if they can help it,

None of this is the fans fault, I wish MK would buy them, pay for them, Settle off the debts and take the club forward, It doesn't fill me with confidence when he seems to be prepared to put up less money than the other bidders, but then again i might feel differently if i was paying, I would certainly feel better as a Bulls fan if i knew the new owner ( whoever that turns out to be ) made at least an effort to be fair with the people who are owed. Maybe that's what the Admin is insisting on.


The administrators duty is to the clubs creditors. Not.the club, fans etc. If selling the players, ground (if they.owned it) and liquidating the club was best for creditors thats what would happen

#59 GIANTSTRIDES

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Posted 25 March 2014 - 06:22 PM

The administrators duty is to the clubs creditors. Not.the club, fans etc. If selling the players, ground (if they.owned it) and liquidating the club was best for creditors thats what would happen

 

So that may happen then, and might be the best way in the end. Let someone start from scratch. Perhaps that's what MK is really waiting for.


Dont expect anything from a pig but a grunt

#60 Derwent

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Posted 25 March 2014 - 06:30 PM

Sky Sports News are reporting that an agreement to buy the club has been reached. The winning bidder is being reported as Marc Green, the club's major creditor who put them into admin in the first place !

Workington Town. Then. Now. Always.






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