Thing is if we go into administration all players contracts are effectively worthless and we get nothing for them. Best we could hope for is to reform in a lower division but I don't even that's very likely.

If we can avoid administration and still can't attract further investment then at least we have opportunity to sell a couple of players and get value for them. It's obvious which players would be most attractive to ther clubs and whilst it would be a bitter blow to lose one or two of our best players at least it would mean we stay in existence and keep core of team together.

As I keep saying, a prepack administration could well ensure the survival of the core of the team, and our SL franchise. A well-funded prepack, led by genuine RL fan/s which had the (non-financial) backing of the RFL could actually resolve a load of the current problems especially with the stareholdings stasis (as Maislebugs has consistently argued). Personally, I'd be gutted if the club defaulted on its tax liabilities, since its an issue I've always felt strongly about (not paying over monies that you deducted from employees and collected from customers, that were never yours in the first place) and I would face a serious moral dilemma - but that would be my problem. And of course we'd have to endure the contempt of many many fans of other clubs - collective broad shoulders would be a must. But a very very quick exit from administration could well work, IMO. As I keep saying. A very quick one,.



But my big big worry is over what would happen if there is no prepack in place (and if there IS one being planned, they are keeping it very very secret) and the administration period became protracted. The vultures, especially those who we already see seem to have one of those special elastic salary caps, would probably have a field day and I dread to think how far we would have fallen before salvation came, if at all. If this was most other RL towns in the country, I'd say we'd have a good chance of new investors ("investors" is an oxymoron of course where RL clubs are concerned!), but its not; its Bradford. The only city with a puddle in the middle and a hole in the heart.



So the dilemma facing the sceptics and waverers is, IMO, whether to hold out and hope and pray for a very quick exit from a subsequent administration (like, sort of, overnight) or to take steps now to try and stave off administration by backing the pledge campaign.



Spoilt for choice, aren't we?

Why is it guaranteed that players would leave during a period of administration?

Since their contracts become void they are essentially worthless, so selling them off to clear debts simply won't happen.

Is it just a case of the administrator attempting to reduce overheads of the business ie the wage bill?



Also, if we were to go into administration and form a new company or whatever, what would happen to the funds raised so far? Would we just pay off as much of the debt as possible and then fold?

Yes. Or of other clubs miraculously finding cap space and coming in for the best players.







Yup.



But, to avoid personal liabilities and heaven knows what else, the board must be confident that if the funds ARE raised then the club will NOT go into administration, so the funds WILL get used in the future business. Albeit to replace the loans to the RFL and the bank, which is basically what the club is seeking to achieve by all this.

Adey, I posted this previously - you might have missed it amongst the millions of others you have admirably being responding to - I was at a club in the mid-80s that went belly up (I guess it was admininstration) but none of the players left. We just carried on as if nothing happened. What is to stop the bUlls players doing this (apart from lucrative offers elsewhere)?

1 - the administrator making them redundant, lacking the cash flow to keep paying them.



2 - offers of better security elsewhere (as happened with Ben Jeffries and his return to Odsal because at the time he said Bulls could offer him better security...)



I think the big difference between then and now is that these guys are full-time and getting paid a load more than in your day, so the dynamics are very different to then?

My guess is that a lot will depend on the attitude of the RFL. If they see the pre-pack admin that Adey describes as being in place, or some other realistic attempt to rescue the club around the corner, I suspect that they would warn off predators from within RL, in order to get a viable team playing at their stadium - and thereby to protect their investment. Of course, they could do nothing about offers from outside the game (RU?), other than in some form to guarantee the players' income in the short term.



Conversely, if the RFL were to see Bradford as a lost cause, I suspect that they would offer Salary Cap exemptions in order to protect our players and find them further employment in the game as soon as possible.



Purely supposition on my part, of course.

I agree.

Yes, a Wednesday night game at Barrow meant half a day off work, getting about £12 losing pay. Home at 3 in the morning. Kids today.

Didn't Peter Hood say yesterday that its the norm to keep 10% cap space free for the unexpected?

Must be true then...

The administrator at Wakefield did not sell the players straight away. My (limited) understanding is the administrator makes an assessment of the business as a potential going concern (in the Bulls case, the turnover, the contrcats it holds with Sky, sponsors etc) and try to find a buyer for the company. Normally what would happen is they would sack everyone who was cheap to sack and had no 'sell on' contractual value and try to hold as much value in the company as possible for as long as possible.

This obviously requires cash but what's emerging from the Bulls is that the club are only borderline insolvent. Craven speaks of owing the bank 150k and the tax bill 'looming'. The accounts show wages at approx 200k per month.



Does anyone know what the tax bill is or whether it's even arrived? Apparently we need a £1million but there's certainly not been a winding up order which if I remember, Wakey had two. Do we have other debts? It's all very odd.