Some folk on here wondered wher the money raised would go, well here's the answer: www.sportinglife.com/rugbyleague ... ml&BID=480 To the taxman & the players. Everybody happy?

Some folk on here wondered wher the money raised would go, well here's the answer: www.sportinglife.com/rugbyleague ... ml&BID=480 To the taxman & the players. Everybody happy?

Presumably Mr Hood and other directors fall into the "and staff" category?

Will that please those who pledged their hard earned?

Methinks people have been taken for mugs.

Surely there can't be many who've pledged who didn't consider the potential pitfalls.

How much of the £506k raised is down to pledges?
If for instance it is in the region of £400k and I read somewhere that you can expect to recover 80% of pledges made.
That means they might only get £320k which would still leave them short of around £74k.
How does that stack up or are they hopeful they will receive the full round of pledges?

There's money to be made in Bradford.
Once I've drafted details of my 'Pyramid Get Rich Plan' I'm going to post in over on the 'Redamberandgullible' forum, sit back and watch the money roll in

IIRC doesn't that £500k "pledged" include the gate money from the Leeds game, plus all the money raised so far by auctions etc? So only a relatively small percentage of that will be cash pledges that they now have to chase up.

Anyone with access to Companies House records able to see how much the Bulls declared as directors remuneration in their last filed accounts? I'd hate to think - as G1 suggests - that the directors salaries are being paid off as part of this first tranche of "liabilities".

BAN THIS FILTH


[size=85(I'm 37 years old and still amused that Bradford's local rag is called the T&A)[/size

AFAIK none of the directors get any remuneration at all. But I could be wrong.

One could argue that they are being paid what they're worth.

The long-term issue isn't getting rid of the liabilities they have right now, its the sustainability of the business moving forward. If they owe money they can't pay, it doesn't matter whether its £1m or £10m - they need to raise the money to pay it or go bust.

What concerns me is whether once they have received the £1m are they solvent on an ongoing basis?

If they ARE Losing 100k a month, I'd say no, not as it stands.

If they are losing £100k a month then they have problems that no fundraising can solve. That's £1.2M per year, so they need to cut costs significantly (presumably only player salaries can let them realistically do that) or increase income on an ongoing basis.

I'm pleased for some of the bulls fans, in that they have dug deep to save their club, but reading the report in League Express on Tuesday I got a bit angry. The source of my anger is that this is a private company, which has somehow (and this, it must be said, was a masterstroke by an apparently inept board) come to be treated as a charity. People have handed over £500k to a private business, no strings attached. £14k from a bucket collection? There are actual charities doing selfless, worthwhile work out there who would have quite liked over a ton of coinage. But no, all that philanthropic good will has been poured without thought into the coffers of a business with it's own shareholders, which needed it because it had squandered every penny it had before.

I don't want to see the Bulls go under, but the whole thing feels quite wrong to me.

Chris Caisley will be well chuffed that he still owns 25% of an ongoing concern instead of 25% of fekk all.

He might be able to finish that massive extension he's put on his house now - I bet he'll thank all those Bulls fans that helped him build it every time he sits in his oversized living room watching his 60" widescreen.

Stood at Odsal last week felt like sitting in the audience at Children in Need.

My point exactly.

I'm waiting for the TV ads with Peter Hood, in black and white, sat looking wide-eyed and vulnerable, while a patronising voice-over tells me that every 5 seconds somebody at Bradford Bulls spends money they don't have. But that I can help give boys like Peter a chance to live a normal, happy life.

"Pledge to save a Rugby League club. You don't hate Rugby League. And kittens. Do you?"

Your analogy to a charity is a bad one IMO. Bulls fans and others have presumably contributed because the continued existence of that team is important to them. In other words they perceive they'll be getting something in return for their dosh, assuming the club survives of course. Very different to the motives of those giving to a charity I'd suggest. Id also be surprised if much of the money has been given without thought on the part of the donors.

The bulls will miraculously hit their £1m target at zero hour I expect!!! Yes!!! It is a con ofthe highest proportions, I bet the money is already in the kitty!!!
We'll soon see yet more money wasted on chav's in gokarts and fireworks etc....

The RFL have pulled yet another money spinning flanker

I just wonder, if it had been Leeds, Wigan or Saints for example... Would we of been given the time scale to get the money together?? Or drastically shorter???

I said the exact same thing when it was announced in the first place. Complete bull5h1t to me.

I am in two minds whether to feel sorry for the poor bulls fans or not. On one hand the bulls management have completely got them hook line and sinker. But on the other hand, why have they been so bloody gullible.

You don't see anything analogous between activities like sponsored walks, fundraising auctions, bucket collections etc and a charitable collection? Not exactly standard ways for a business to generate revenue are they?

I would say the begging bowl coming out at Odsal was treated very much like fundraising for a charitable cause. We may have to agree to disagree.

Ding - we have a winner.

This entire exercise is about making the club more viable to a future buyer and ensuring that the current shareholders get better value for their shares.

Those who have been duped into contributing are essentially putting money in the pockets of the Bulls shareholders by propping up the market value of their investment.

For all this talk of "the RL family", where were Bradford's family loyalties when Wakefield were close to disappearing down the crapper, or when they voted against the reformed London club rejoining SL?

Hypocrisy of the highest order.

To be fair to the Bulls supporters, their first and often only priority was to save the club from the administrators wrecking ball as you will see if you read the relevant threads on their forum, after they're in a safe place then you'll find that many of them start asking awkward questions of the existing shareholders.

Would the same thing happen at Headingley - I suspect it would, I wouldn't, but I'm sure that enough would give £100 if asked, just for an example - if you were asked this afternoon to donate £100 to a building fund for the new southstand would you donate ?

Reading through some of the threads over on the Bulls forum, I just get the impression that they are all in denial, and they genuinely believe everything is rosy, the future looks good, and they haven't just taken part in one of sports biggest cons, led by the wealthy Bulls shareholders.

Still...good luck to them. It's their money, and they are entitled to waste it anyway they want.
Bradford council have wasted £24million on a puddle, so fans throwing £500,000 into a tip is small change!