Financial Crisis At The Bulls

[weststand-rich]

Well Bradford haven't been paying anything like the full salary cap for at least three years now, so they've not been spending that much beyond their means in player salaries.

I get the impression that this is essentially the legacy from the legal action Leeds took with them over signing Iestyn Harris back from Rugby union.

[jobo]

Can the game really support a fully professional top division? Bradford don't get small crowds, so why are they going under.

The salary cap was supposed to stop this sort of thing, but its been eroded over the years to level the playing field only, and not to prevent clubs from killing themselves.

Every RL side, especially if it aims for success, needs a sugar daddy, including us and Leeds. The guy at Broncos has put in millions out of his own pocket. Over at St Helens, they are having to stump up and both Hull clubs are subsidised. Widnes is costing their chairman a fortune, in fact every RL club is really an economic basket case.

The idea of fans helping out with a donation isn't that bad of an idea, as long as they'd get some sort of ownership out of it.

[Wigan_forever1985]

shocking state of affairs?, trouble is im sure fans would stump up some cash if they knew;


a) what the hell went wrong
b) whether they would ever see the money again
c) what they plan to do if they survive

[josie andrews]

Didn't they drastically reduce season ticket prices to encourage fans to purchase, similar to the Giants?

[Toryboy]

Bradford Bulls will 'go out of business' unless they raise £1m

Bradford Bulls say they will go out of business unless they raise £1m, with at least half needed by mid-April.

The club is urging fans to pledge £100 each to clear their debts.

The four-time Super League champions sold the lease on their Odsal ground to the Rugby Football League in January.

Chairman Peter Hood told the Bradford Telegraph & Argus: "If we haven't got cash then we can't stay alive and if we can't stay alive then we can't fulfil our fixtures. It's that serious."

Bulls chief executive Ryan Duckett told BBC Radio Leeds: "We've had a number of well documented financial issues over a number of years and our on-field performance has not been what we'd hoped.
Use accessible player and disable flyout menus

"The bank have changed our lending arrangement and that's what's brought things to a head.

"It's not an exaggeration to say this is a crisis.

"Bradford Bulls is a club that means a lot to our fans and to fans of rugby league. We've had a great response so far.

"If we're not successful there might not be a Bradford Bulls any more."
Analysis
Image of George Riley George Riley BBC Sport

This dramatic announcement will frighten Bradford's fans who have already dug deep to help the club through its recent financial turmoil. To see one of Super League's powerhouses now appealing for supporters to cough up £100 each to keep them alive is remarkable. Director Andrew Bennett appears to be sending out mixed messages in saying Bradford are "at death's door" while also describing the crisis as a "blip". Whether there are shock tactics at play here or not, it is incredibly sad and very worrying for all fans of the game to see one of its great champions in such dire straits. Without a wealthy benefactor in the mould of David Hughes, who is keeping London afloat, the fans are the only option left to Bradford.

A statement on the club's website read: "The RFL stadium deal only enabled us to address our long-term liabilities but could not help us stave off the grave financial situation."

The club have written to season-ticket holders, members and sponsors asking for their support.

Bradford won their last title in 2005 and have also won five Challenge Cups, but a lack of recent on-field success has compounded their financial problems.

The statement added: "With no play-off football for the last three seasons, the biggest and deepest recession this country has experienced in living memory, sponsorship income increasingly difficult to come by - indeed dropping to an all time low - and our bankers' lack of ongoing support, we have almost reached the end of the line."

RFL director of standards and licensing Blake Solly told BBC Radio Leeds: "We're concerned as the governing body of the sport but we're giving them all the help we can.

[First Try Tickle]

Didn't they drastically reduce season ticket prices to encourage fans to purchase, similar to the Giants?

Spoke to some Bulls fans in the queue for my hot chocolate at Odsall recently and I commented about the great crowd. They said Bradford were almost giving season tickets away to try and get some money in. Now all thats gone and even though a crowd of 10,000 turns up every week, most of them pay nothing.

The thing is they are asking for between £50-£100 off each season ticket holder to help them out, but not saying if they will get this back either in cash or shares.

Even if they said give us the money and if we are doing ok in 2 years time we will refund double, then i think fans of other clubs may help out, but to just say give us some money when most players and coaches will be on plenty more than us is a bit cheeky.

[highland convert]

Can Superleague stand the loss of the bulls. There would be a knock on effect that could shake SL to its roots. Bradford is a Derby club. Cas, Wakey and possibly one of the Hulls would suffer in a similar way to if Wigan had flopped a few years back. Income is derived from big games and Bradford of old was a big one. Plain and simple.SL need Bradford. Jim

[BriH]

Very sad but you have to ask the question:
"How did they get into this mess?"

I remember when Bradford Northern went bust and Trevor Foster was instrumental in their survival.

I hope they survive.

[jobo]

Very sad but you have to ask the question:
"How did they get into this mess?"

I remember when Bradford Northern went bust and Trevor Foster was instrumental in their survival.

I hope they survive.

The company will just go bust. They have few tangible assets, apart from the players, who will become free agents should it go west. If they are in such dire straits, the best thing for them would be to enter administration with a new consortium buying the assets back from the administrator, prior to declaring bankruptcy. It would be basically the same club, same players with new directors, a new name and financing. Just depends if anyone with enough financial clout would be willing to get involved.

[Toryboy]

Bradford Bulls will 'go out of business' unless they raise £1m

Bradford Bulls say they will go out of business unless they raise £1m, with at least half needed by mid-April.

The club is urging fans to pledge £100 each to clear their debts.

The four-time Super League champions sold the lease on their Odsal ground to the Rugby Football League in January.

Chairman Peter Hood told the Bradford Telegraph & Argus: "If we haven't got cash then we can't stay alive and if we can't stay alive then we can't fulfil our fixtures. It's that serious."

Bulls chief executive Ryan Duckett told BBC Radio Leeds: "We've had a number of well documented financial issues over a number of years and our on-field performance has not been what we'd hoped.
Use accessible player and disable flyout menus

"The bank have changed our lending arrangement and that's what's brought things to a head.

"It's not an exaggeration to say this is a crisis.

"Bradford Bulls is a club that means a lot to our fans and to fans of rugby league. We've had a great response so far.

"If we're not successful there might not be a Bradford Bulls any more."

This dramatic announcement will frighten Bradford's fans who have already dug deep to help the club through its recent financial turmoil. To see one of Super League's powerhouses now appealing for supporters to cough up £100 each to keep them alive is remarkable. Director Andrew Bennett appears to be sending out mixed messages in saying Bradford are "at death's door" while also describing the crisis as a "blip". Whether there are shock tactics at play here or not, it is incredibly sad and very worrying for all fans of the game to see one of its great champions in such dire straits. Without a wealthy benefactor in the mould of David Hughes, who is keeping London afloat, the fans are the only option left to Bradford.

A statement on the club's website read: "The RFL stadium deal only enabled us to address our long-term liabilities but could not help us stave off the grave financial situation."

The club have written to season-ticket holders, members and sponsors asking for their support.

Bradford won their last title in 2005 and have also won five Challenge Cups, but a lack of recent on-field success has compounded their financial problems.

The statement added: "With no play-off football for the last three seasons, the biggest and deepest recession this country has experienced in living memory, sponsorship income increasingly difficult to come by - indeed dropping to an all time low - and our bankers' lack of ongoing support, we have almost reached the end of the line."

RFL director of standards and licensing Blake Solly told BBC Radio Leeds: "We're concerned as the governing body of the sport but we're giving them all the help we can.