This hunt for investors is laughable...sport is not an investment if you want a return (you may as well throw your money directly down the drain) and any well-heeled superfan would surely have come forward ages ago to take up sugar daddy status.
"They can apply to the courts for the moratorium to be extended but my understanding is that the club aren’t going to seek to do that. "
"“It’s far too early to speculate on what might materialise if the worst happens, simply because each administration is very different.
“Bradford Bulls are an iconic name but there are a lot of things which need to happen for the club to keep going.”
no comment from Its the club though, just the rfl.
very downbeat summary from someone who actually might have some genuine inside knowledge. The quote "as we understand it, no investors have come forward" is grim, seems to contradict the statement that we have £800k lined up.
Last edited by Cibaman on Tue Jun 26, 2012 7:22 am, edited 1 time in total.
Joined: Sat Dec 22, 2001 12:04 pm Posts: 14145 Location: At the Gates of Delirium
Based purely on available information, including the RFL statement in the T&A this morning, if the directors do NOT announce proceeding to administration today, then my speculative guess has to be that they are more worried about the consequences of administration for the future of the club than they are about a winding-up order from HMRC. And are prepared to lose the creditor protection moratorium and take their chances in the face of winding up proceedings being instigated, rather than risk the consequences of administration. It would also suggest that matters have not proceeded as planned.
Or, alternatively (and there is always hope) they are sufficiently confident of raising the necessary funding to be able to accept losing creditor protection for a short period, the two week moratorium having bought time. Maybe.
Conversely, if they DO proceed to administration, they must presumably judge the risks of administration - including any threat to the SL licence and of key players becoming free agents and being recruited by others, to be manageable or acceptable. That would suggest to me a prepack being in place or imminent, and the nod having already been given by the RFL.
But all pure speculation, in the absence of any real hard facts anywhere, so in 12 hours this may just read as so much more out of date off-beam speculative guessing!
[quote="Cibaman"][/quote] I that as meaning whoevers putting the 800k up isn't prepared to put it into the current company where 600k of it will go to hmrc. Would assume the 1.2m figure they keep talking about to see out season includes the hmrc debt. Go through a pre- pack and remove that debt ( or at least only have to pay a percentage of it) and the 800k goes a lot further. Assuming rfl treat us the same asveakey and crusaders and give points deduction rather than revoking license.
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