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Bradford Bulls to get lower share of 2023 central funding


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I do wonder how much the loan was for and what the terms were. I know the article says a significant 6 figure sum but that could be 120k or 900k. 

I also wonder why it was actually needed by Charmers and for what purpose. Charmers was obviously deemed to be fit and proper for taking over the club so shouldn't have needed any loan like this in my opinion. If a loan was needed then alarm bells should have been ringing. I also think Nigel Wood was CEO of the RFL when the RFL awarded the club to Charmers, who now obviously owns Bradford. 

I have no issue with clubs getting loans from the RFL. However I think if the governing body are giving out loans there needs to be full transparency and they need to be for a clear purpose. 

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38 minutes ago, POR said:

Seems things are going from bad to worse for the Bulls, Chalmers knowingly puts more burden on the Bulls with this loan then leaves it to the next management to sort out, doesn't look like Nigel is recieving any old pals act from the RFL.

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11 hours ago, Impartial Observer said:

Amazed that Gledhill hasn't mentioned this on twitter.😉

He's just struggling to work the numbers out on his fingers.

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Build a man a fire, and he'll be warm for a day. Set a man on fire, and he'll be warm for the rest of his life. (Terry Pratchett)

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1 minute ago, The Blues Ox said:

The whole Bradford thing should have been fully investigated, the takeover, the ground, Nigel Wood, but it never will be. Too many people have likely covered their tracks by now in the whole sorry affair.

Exactly. The MP who was shouting about the academy producing Bateman and Burgess years ago was strangely quiet over the much bigger issue of the constant shambles of the club in the years since (and while) they came through the system.

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1 hour ago, Harry Stottle said:

Seems things are going from bad to worse for the Bulls, Chalmers knowingly puts more burden on the Bulls with this loan then leaves it to the next management to sort out, doesn't look like Nigel is recieving any old pals act from the RFL.

Already given and gratefully received.

https://www.theguardian.com/sport/2018/jul/16/rfl-2m-losses-over-300000-nigel-wood

     No reserves,but resilience,persistence and determination are omnipotent.                       

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9 hours ago, Harry Stottle said:

Seems things are going from bad to worse for the Bulls, Chalmers knowingly puts more burden on the Bulls with this loan then leaves it to the next management to sort out, doesn't look like Nigel is recieving any old pals act from the RFL.

I wouldn't be too sure that is the case. The years of watching this sport have left me very sceptical.

The article strikes me as click bait, sensationalised journalistic nonsense. 

Bradford Bulls are to receive a lower-than-planned central distribution share from the Rugby Football League in 2023 due to the start of a loan repayment issued to the club by the governing body several years ago.

It makes no reference to the exact amount borrowed, just 6 figure sum, or the amount that will be withheld from central funding each season. If the loan will be paid back at £5 a season, I think they might cover that relatively comfortably without issue, regardless of whether they borrowed £100k or £999k. 

It doesn't give any useful information to allow the reader to make any sort of judgement either way. 

 

Edited by DOGFATHER
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1 hour ago, DOGFATHER said:

I wouldn't be too sure that is the case. The years of watching this sport has left me very sceptical.

The article strikes me as click bait, sensationalised journalistic nonsense. 

Bradford Bulls are to receive a lower-than-planned central distribution share from the Rugby Football League in 2023 due to the start of a loan repayment issued to the club by the governing body several years ago.

It makes no reference to the amount borrowed or the amount that will be withheld from central funding each season. If the loan will be paid back at £5 a season, I think they might cover that relatively comfortably without issue, regardless of whether they borrowed £100k or £999k. 

It doesn't give any useful information to allow the reader to make any sort of judgement either way. 

 

To true, as for the journalism yes they should glean answers for those questions.

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Whenever a club borrows money from the RFL, its repayments are deducted from its annual distribution.

It's been that way since the year dot and I would guess that every club in the game has borrowed money from the governing body at some stage.

So one relevant question is - how many clubs currently are also in this situation?

I've asked the RFL for the information.

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41 minutes ago, Martyn Sadler said:

Whenever a club borrows money from the RFL, its repayments are deducted from its annual distribution.

It's been that way since the year dot and I would guess that every club in the game has borrowed money from the governing body at some stage.

So one relevant question is - how many clubs currently are also in this situation?

I've asked the RFL for the information.

Presumably, given that the RFL distributed the government covid loans … they all owe something?

Build a man a fire, and he'll be warm for a day. Set a man on fire, and he'll be warm for the rest of his life. (Terry Pratchett)

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9 hours ago, Damien said:

I do wonder how much the loan was for and what the terms were. I know the article says a significant 6 figure sum but that could be 120k or 900k. 

I also wonder why it was actually needed by Charmers and for what purpose. Charmers was obviously deemed to be fit and proper for taking over the club so shouldn't have needed any loan like this in my opinion. If a loan was needed then alarm bells should have been ringing. I also think Nigel Wood was CEO of the RFL when the RFL awarded the club to Charmers, who now obviously owns Bradford. 

I have no issue with clubs getting loans from the RFL. However I think if the governing body are giving out loans there needs to be full transparency and they need to be for a clear purpose. 

The Fit and Proper Person test really has nothing to do with how much money you have. 

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2 minutes ago, Les Tonks Sidestep said:

Did all clubs take a Covid loan?

I think we were told that all who could, did.

Build a man a fire, and he'll be warm for a day. Set a man on fire, and he'll be warm for the rest of his life. (Terry Pratchett)

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3 minutes ago, Les Tonks Sidestep said:

Did all clubs take a Covid loan?

No, I definitely know one club that did not. (There may be more, but have no knowledge of what percentage took them up.) It will be interesting to see what happens if any club defaults on paying back their Covid loan - will the RFl then be liable to pay it back? Mr Rimmer was questioned on this a few weeks ago & was suspiciously silent in his reply!

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5 minutes ago, Les Tonks Sidestep said:

The Fit and Proper Person test really has nothing to do with how much money you have. 

I know. However the RFL should certainly consider whether the said person can bring something to the table to sustain a club. Would the other bids have done this? I could buy a club and immediately ask the RFL for a loan. As I said in my opinion this shouldn't be the route to take and there should be much more vetting done.

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4 hours ago, DOGFATHER said:

I wouldn't be too sure that is the case. The years of watching this sport has left me very sceptical.

The article strikes me as click bait, sensationalised journalistic nonsense. 

Bradford Bulls are to receive a lower-than-planned central distribution share from the Rugby Football League in 2023 due to the start of a loan repayment issued to the club by the governing body several years ago.

It makes no reference to the exact amount borrowed, just 6 figure sum, or the amount that will be withheld from central funding each season. If the loan will be paid back at £5 a season, I think they might cover that relatively comfortably without issue, regardless of whether they borrowed £100k or £999k. 

It doesn't give any useful information to allow the reader to make any sort of judgement either way. 

 

Typical Matt Shaw journalism (and i use that term loosely) im afraid.  Clickbait sensationalist headlines where the article its self provides very little detail.  Article reposted half a dozen time over the next couple.of days to get as many clicks as possible. 

 

So for context, how much is the loan? what is it for? how much are we paying back this year? do other clubs also have rfl loans? How much are they paying back? 

 

He never misses a chance to stick the knife in to Bradford where he can. 

 

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