Bulls administrators excited by interest shown

The joint administrators of Bradford Bulls say they are “very excited” about the number and quality of parties interested in acquiring the Bulls

Gary Pettit of PBC Business Recovery, Northampton was appointed one of the joint administrators to Bradford Bulls (Northern) Limited (“BBNL”) – in Administration, on 14th November 2016. BBNL operates the Bradford Bulls rugby league club (“Club”), playing in the Kingstone Press Championship.

In a statement, Mr Petit says he is encouraged by the manner of interest shown in the club.

“I have been delighted with the calibre and number of parties, who have expressed interest in acquiring the club. I think there are some very exciting opportunities and innovative strategies proposed by various interested parties.

“We have executed non-disclosure agreements with 7 different parties, and begun a process of due diligence. That process is ongoing – we have been working from dawn until dusk (and beyond).

“I recognise that everyone wants to see matters concluded as quickly as is possible. I believe we are making solid progress, but this is not an overnight procedure and nothing can be guaranteed. However, I would like to think we can move to completion within a couple of weeks.

“In our continuing discussions with RFL, both they and we have been very clear that we want to find the right deal, which aims to prevent any recurrence of the current unfortunate position.

“I am very confident that the RFL – given their duty to protect the wider interests of the game, will continue to assist by sharing their experience. This will ensure that the Administration process is concluded as swiftly and as efficiently as is possible.

“We recognise that the cultural capital of the Club is vital. We also recognise that it remains a priority to safeguard the Bulls’ heritage and legacy.

“We will provide a further update next week.”