Pre-pack administration. Owner/s (it usually is, although can be managers) of a business put it into administration, with a deal already done to buy the assets off the appointed administrator (with whom they have usually been working beforehand) pretty well overnight. Before anyone else has a chance to do anything much. Usual result is that they get the assets cheap free of any liabilities, while the creditors usually get little or anything. Big saving on administration costs, and least disruption to operations, are cited as reasons.



Personally, I detest the bloody things and would cheerfully outlaw them, tbh.



It would seem the writer of the piece shares my assumption as to what Caisley would probably do.



RFL's lease with the Bulls requires that they provide a replacement stadium should they sell or otherwise move the Bulls out of Odsal. That agreement is with Bradford Bulls Holdings Ltd, which company would cease to exist following administration. Newco would be a separate legal entity, and - as I have warned on here for ages - the RFL would not be bound by any previous contract with the Bulls. It could enter into a new contract with Newco if it so chose - but would be under no obligation to. For example, it could invite Wakey to move in...

But realistically thats a fairly easy obstacle to overcome isnt it. Just ask prior to going into administration, if the RFL are happy to sign a similar lease with the new company with similar safeguards (there is no real reason you would expect they wouldnt be happy with doing so) and everything is hunky dory. Or if the RFL arent happy then you dont go into administration or move to VP and the RFL are left with an expensive asset which is pretty much useless to them

Correct. A lot of it is media hysteria.

Tony is Silsdenbull btw, the squad thread guy





Surely even CC can see that if he were to put the club into administration, after all we as the fans (and the RL community in general) have done to keep it from precisely such a fate, then it would make him pretty much the most detested man in the whole of RL? Or does he not care about that?



You have to remember that however sincere that email might be, it's still only Andrew's side of the story and not completely factual.



Let's just wait and see what happens, we've done our part now.

If the pledge money pays the urgent debts, what other significant existing debts are there? What would be gained by Administration?

The other thing that people keen for admin are overlooking us that any new Phoenix company would be under no obligation to honour season tickets. Maybe not a massive issue for bulk of supporters but would hit those who bought into longterm ticket offers last year hard. And I'd suggest most of those would be hardcore supporters. Think a cornerstone of caisleys business plan is a immediate cash injection from people buying half season tickets or paying on gate for the rest off the year.

In financial terms? Release from obligations for the future - e.g. the liability to repay the council the Odsal settlement on a sliding scale up to 2019; most of the image rights tax. The big VAT bill due end of this month; the April PAYE due latest 22/5, and the Class 1A NIC bill due 7/7 (could be big); player contracts for players you no longer want (subject to what the RFL might rule); any other contingent liabilities from the past that have not yet crystalised; liability to repay sponsors if any circumstances in the agreements are triggered. And, of course, the multi-year season tickets (even if they honoured the current year ones).



Bet that lot tots up top a fair bit, quite apart from normal trade creditors (such as they are, given the club's credit rating will be the wrong side of zero right now).



On top of that, and just as importantly, Caisley gets to dump all the other shareholders, so he and his cabal have complete control of Newco. Not much chance of meaningful supporter representation then?



The downside for Caisley is if he does do that, and does not compensate those fans who have lost out, he is likely to become the most loathed and despised man in Yorkshire. Even HE cannot be so obsessed as to risk that?

The other thing would be the tie to odsal. Sure I can think of a couple of people with a reason to see us more elsewhere.

I guess that can only be conjecture, and I really can't see him thinking that, surely? Maybe if he said would honour the season tickets of those who had paid a pledge it could soften the blow for some, but IMO that approach would be commercial suicide.



If nevertheless such an event WAS to come to pass, I can assure you he would not receive a single penny form me.

And, don't forget, this rumour is another thing to undermine the pledge and collecting the monies in. Co-incidence? If it was to be deliberate, how would fans feel about being used as cannon-fodder? And if it is co-incidence, its another piece of very unfortunate timing.

Thats why i was confused, easily done early doors on a friday evening

Like most on here I'm not the greatest Caisley fan. Is it guess work that if he gets control Admin is his plan.