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Board index Super League Bradford Bulls - RedAmberandBlack.net What's happened to our £1/2M Pledge money?


childofthenorthern Cheeky half-back
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Adeybull wrote:
...
So where the hell did it go? Possibilities include:

- simply paying the salaries and other running costs from around October; on the assumption that other income was far far less than ongoing costs;

- paying off some other loans or liabilities we were unaware of (maybe including the last lot re Harrisgate);
...


Given the rumour that directors loans exist and interest was not being paid could it be possible the discrepancy, both in reported debt and ongoing costs, lie there?
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There were no loans from directors at 31/12/10.

The only real comment I have seen on this subject, beyond the usual fairly wild speculation, was the assertion that about a year ago a former director threatened to initiate winding up if accrued interest on his loan account, the loan itself having been repaid years ago out of the Odsal settlement, was not repaid. If that was true, the amount involved was previously disclosed as around £50k so that would not make big inroads.
Bradford Badger User avatar
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Bull Mania User avatar
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Think it went on paying players wages and filling the overdraft facility.

See on the T&A we "Supposedly" have £800k on the table but still need £400k in next few days to survive. IF (and it's a big IF) this is true then it is a great effort by Caisley and co.

i really didn't want Caisley coming back and always thought Hood took some unfair criticism, butit does sound like Caisley & co have been pretty open about the financial situation overall and they have done well to get 800k on the table.

I don't tihnk you can blame 1.7 million debt on cheap seaosn tickets, we had awful attendances in 2010.
mat Silver RLFANS Member
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Adeybull wrote:
There were no loans from directors at 31/12/10.

The only real comment I have seen on this subject, beyond the usual fairly wild speculation, was the assertion that about a year ago a former director threatened to initiate winding up if accrued interest on his loan account, the loan itself having been repaid years ago out of the Odsal settlement, was not repaid. If that was true, the amount involved was previously disclosed as around £50k so that would not make big inroads.

and apparently said former director has allegedly taken that £50k amount OUT of the club sine the change in board. seems strange to be taking funding away from club he's supposed to be trying to save.
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mat wrote:
and apparently said former director has allegedly taken that £50k amount OUT of the club sine the change in board. seems strange to be taking funding away from club he's supposed to be trying to save.


If it was owed to me I would take it back before the club went under.
YOU CAN'T STOP A BULL WHEN HE'S MADE UP HIS MIND!
debaser User avatar
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So everyone else can put money in to try and save it, in a lot of cases, more money than they can really afford, but not any of the directors?
I'll be the first to admit this is a bright but haunted age.
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Nobody made anybody put money in, and nobody has to, not even the BoD.
YOU CAN'T STOP A BULL WHEN HE'S MADE UP HIS MIND!
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Lack of turnover by reduced Season tickets IS one of the biggest reasons

Date Of Accounts........31/12/2010........31/12/2009..........31/12/2008
Turnover....................£3,956,715..........£4,600,518.........£4,639,613
It's Official - "Homer Simpson is a Leeds Fan"
mat Silver RLFANS Member
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Homer Simpson wrote:
Lack of turnover by reduced Season tickets IS one of the biggest reasons

Date Of Accounts........31/12/2010........31/12/2009..........31/12/2008
Turnover....................£3,956,715..........£4,600,518.........£4,639,613


The cheap season tickets didn't start until 2011, as a response to the already declining turnover. Figures for that year aren't out yet
Last edited by mat on Thu Jun 21, 2012 8:17 am, edited 1 time in total.
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