Re: Bulls in Admin - your thoughts ! : Tue Jul 03, 2012 3:26 pm  

Code13 wrote:

Many have overdrafts, and loans that they are perfectly capable of servicing but not reducing in a short period

Countless companies have gone to the wall because banks pulled their overdraft facility when the company was previously running well and in profit

I think you are not understanding how the world works

I think the mis-understanding lies firmly in your court.

Banks will not give overdrafts to limited companies without some security, in the form of a tangible asset i.e. Real Estate, in this case the Stadium, after all I'm sure the Directors would not have put their houses up as a guarantee of repayment.

The RFL purchased Odsal in the belief that their money was going to secure the future of the Bulls, but unfortunately the Bank had no other option than to withdraw the overdraft facility when any nhope of being repaid had disappeared.
The RFL have once again proved to be totally incapable of looking at the bigger picture and realise what effect their action would have.

Re: Bulls in Admin - your thoughts ! : Tue Jul 03, 2012 3:36 pm  

You're mistaking overdrafts for secured loans

The bank DID NOT pull the overdraft because of the lease

Re: Bulls in Admin - your thoughts ! : Tue Jul 03, 2012 4:51 pm  

Code13 wrote:

On the topic of players I see the bulls players are royally being shafted

If anyone from the club reads this / or someone has the contacts to suggest it just think of the PR coup and goodwill to potential recruits of both staff and new fans - if the Giants offered support for training and sent coaching staff over.

Just a thougt

They can't sort our team out, never mind anyone else's, if we hadn't been top of the league before this run of 7 defeats out of 8 we'd be at the bottom of the league with London.

I'm not sure they'd take the offer!

Re: Bulls in Admin - your thoughts ! : Tue Jul 03, 2012 6:56 pm  

Code13 wrote:

You're mistaking overdrafts for secured loans

The bank DID NOT pull the overdraft because of the lease

The bank pulled the overdraft because it was clear that the bulls were not able even long term to pay off their debts.
The reason the world is in the mess it is is because banks were lending to people who were not able to pay back the money-the banks were lambasted for this and governments all over the world are insisting they don't carry out this type of lending again.
So the bank pulled the plug.

Re: Bulls in Admin - your thoughts ! : Tue Jul 03, 2012 10:45 pm  

Has Bullman & Bull boy gone too, or is the administrator planning on appointing them to coach the team this Sunday ? - seriously this is getting beyond a joke

Re: Bulls in Admin - your thoughts ! : Wed Jul 04, 2012 5:07 am  

Makes us realise how fortunate we are to have sir Kenneth. Also how important it is that we become less dependent on his financial generosity. That's why ticket prices should increase to normal levels next year , and why rhp s role of business development manager is so important.
That said any professional dealings Ive had with the giants on the commercial side I do find them amateurish and too short term focussed. Eg try finding how to sponsor a player on their website.

Re: Bulls in Admin - your thoughts ! : Wed Jul 04, 2012 5:53 am  

Try ringing them up....

Re: Bulls in Admin - your thoughts ! : Wed Jul 04, 2012 6:58 am  

jools wrote:

The bank pulled the overdraft because it was clear that the bulls were not able even long term to pay off their debts.
The reason the world is in the mess it is is because banks were lending to people who were not able to pay back the money-the banks were lambasted for this and governments all over the world are insisting they don't carry out this type of lending again.
So the bank pulled the plug.

Yes the bank pulled the overdraft to reduce their exposure

No they didn't do it because of the sale of the lease.

It's that simple.

Re: Bulls in Admin - your thoughts ! : Wed Jul 04, 2012 10:48 am  

Either way it doesnt really matter as it looks like the Bulls are on the way out.

Read yesterday that they cant even access training grounds. Bearing in mind they have made redundent a number of people - Who will pick the team and who is in charge of opening the ground on match day and responsible for crowd safety??

Re: Bulls in Admin - your thoughts ! : Wed Jul 04, 2012 12:08 pm  

I foresee a new Haliford or Bradfax team on the horizon!!