Financial Crisis At The Bulls

[Shaun1967]

Very realistic chance they won't be going for much longer.
"The Bulls, who have struggled financially for the past few seasons, need to raise around £1million - and at least £500,000 in the next few weeks - if they are to avoid going bust."

http://www.sportinglife.com/rugbyleague ... ml&BID=480

[Kittwazzer]

Great. Just what the game needs!

[AdamMac]

Awful news but could we see an opportunity here...

wouldn't mind whitehead/burgess at our club.

It's a dog eat dog world out there

[AdamMac]

How on earth did they get a super league license? I'd be livid if I were Halifax.

[x Wigan Warrior x]

This is bad, especially after the RFL purchased their stadium. Our game cant afford to lose big names like Bradford !

[jobo]

Good old RBS. A business hits hard times, they reduce the overdraft facilty. Banks hit hard times, they get our money to see them through. If anyone thinks the RBS is just covering its bases by reducing the overdraft, I'll lay 1000/1 that Bradford are maxed out at the old amount and by doing this, RBS will put them into default.

[Matthew]

They've been circling the drain for some time - hence selling their ground to the RFL and then renting it back off of them; that's not exactly forward planning is it?

They are asking fans to contribute half a million to save them long enough to play their next 2 fixtures. That equates to ten thousand people giving them £50...

I suspect that their overdraft has been maxed out for some time with interest payments stacking up on them and no sign of paying it off. RBS are cutting their overdraft so that they don't lose any more money than necessary when they go into administration and end up with about 10p in the £. If doesn't help Bradford and RBS clearly think that they are finished.

Like a lot of clubs, they spent big when successful and then found themselves losing money hand over fist when the trophies dried up.

They are essentially dead in the water, their only hope of a reprieve is either a millionaire owner with more money than sense or the RFL. Neither looks likely.

[Mike]

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.

[TonyH]

This is probably also the reason they've been on Sky the past 4 weeks, trying to bring in the money.

Bradford are asking fans and players to help out with donations which is a disgrace in my opinion. Atleast Crusaders took it on the chin and held their hands up to say they couldn't carry on in Super League.

[Matthew]

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.

The salary cap hasn't worked - partly because some of the teams pay it no heed what-so-ever (we all know which team I'm talking about here). Other teams believing that it was now a level playing field have recruited big in the belief that they can be competitive, when it's simply not true. Rather than a cap, a club should have to break even; the more you earn, the more you spend.

I can't believe that the RFL issued the Bulls a licence when they were clearly making a loss. It seems they've recruited with no idea how they are going to pay for it. Unlike other clubs, they don't seem to have much of a youth policy, so that means that they have to buy their squad.

They may not get small crowds - but we don't know how many discounted tickets there are.