If they have run out of cash that suggests they were living off the overdraft. It's not something I'd do as a household.

With the stadium gone there are no assets to sell other than players.

But now that this has been announced, who will buy when players will go for free in a few weeks?

Offloading players for free will not help either, it will reduce commitments but the players don't need 500k in a month, that would mean their wages for the year would be 6 million. So the money is needed for running costs and debt reduction.

Administration wouldn't help would it? This is a cashflow issue rather than debts that we can't clear. The only way around it is to minimise outgoings, our most substantial of which will no doubt be wages and Odsal upkeep.

Doesn't look like there's a viable alternative to Odsal, so all I can see happening is the Crusaders route. Everyone's contract becomes void, the RFL issue another dispensation for our o/s players and the vultures begin to circle. If we're lucky we still have enough left to scrape together a team for the lower leagues.

Someone is in cloud cuckoo land if they think fans can raise £1m between them.

It needs to be made clear what the money is for, and what raising it will achieve, the fundraising needs to be co-ordinated by someone outside of the club (i.e. a supporters trust) and kept hold of so it just doesn't disappear down a black hole if the overall target is not met and therefore the money raised can then be used to support a newly reincarnated club.

This.

There is already talk on other forum on which 'young stars can be cherry picked'. So if the 0.5m initial target isn't met can we expect the club to once again sell its best players? Or will it be a little to late by then... so disappointed.

It's an unholy mess. It sounds like this has been bubbling for a while but the news has been kept quiet.

Wakefield tried the fast cash plan shortly before they went into administration. It's a pie-in-the-sky idea.

It looks like game over. Just got to hope someone comes in and buys the ashes so at least we've got something to support.

Champs to Tramps in 6 years. Absolutely depressing.

"the Good Friday visit of Leeds Rhinos could be their last-ever game at Odsal..."

[urlhttp://www.thetelegraphandargus.co.uk/sport/sportbulls/9614049.Bulls_need_to_raise___1m_or_go_bust__says_chairman/[/url

"Director Andrew Bennett said: “We’re at death’s door.”

He added: “We can stay alive for about two and a half weeks.

“We could just about, at this moment in time, put the Leeds game on.

“But that could be the last-ever game at Odsal unless money comes in quickly.”

Bennett added: “If we get over the blip, we’ve got a plan that actually takes us forward long-term that physically works as a business.

“Therefore we wouldn’t need to go back to our fans in 12 months’ time asking for them to bail us out again.”

Not so sure about that last bit tbf

I cant post on here at this moment so angry at what seems to be incompetent leadership and blatant untruths told to loyal fans.

The more I think about this the more I get angry, why come to fans do close to the wire, why not be open with the fans about our position and give the club a chance to raise funds with the help of fans. To do this in tw short timescale they're quoting just seems impossible. I understand they weren't expecting the bank to reduce the overdraft and the RFL to ask for repayment so soon but why did it even get to that stage.

I feel I've been lied to by the current people running the club and I'm sure I'm not alone in that feeling.

not being funny or anything like that, but the signing of lynch for my beloved fc really shows the trouble your in, the guy would have stayed at the bulls until the end of his career no doubt if the finances were right...having fc paying a transfer fee has helped you for abit and weve taken a big earner of yourselves, but i cannot understand how you can offer whitehead a new 5 year deal on the back of this latest news? tragic as it is....
fc seem to have alot of cash to splash at the minute and were linked with whitehead, also strong rumours of a bid for your burgess going through at somepoint and weve almost done a deal for arundel from cas for next year...
unfortunatly some of your younger players may be lost, which is a sad outlook from a top club like your own

You are certainly not alone.

There is no chance of selling players. You need £500k. But even selling your whole squad at this point it would be difficult to raise this amount of money. Why? because whilst the club was solvant some players would be worth over 100k in terms of contracts. Now you have no money and insolvancy beckons, no club will offer money for a player they can get as a free agent in a few weeks.

If you had a player high in demand you may get something for them as clubs may compete with each other to secure their services.

In the end once the club goes bust, the players are no longer receiving a wage and so the contract is null and void and they can walk.

It's a shocking state of affairs and one that other clubs should take notice off, you can't run a business of loans and overdrafts. In the end income has to level with expenditure.

time to abandon ship, and get any money we can to start a new club. giving any omney to this lot is like throwing it to the wind.

Caisley and Hood and the people around them have mismanaged this club in a monumental way. time to start from scrath, and pull some money together to form a community club

RLFC Northern of Bradford

Another way to look at it is an opportunity for someone to be the Saviour !

Playing where exactly?

Didn't we just re-sign Whitehead to a long term deal, and trying to do the same with Bateman? That's in the last 7 days for goodness sake. Whatever has happened must have been since then?

A rebuilt team leasing Valley parade or Odsal would seam the most likely senario.

There is also the possibility that this is a counter move against the bank. The bank have reduced the overdraft. So bulls respond with this. ie Either give us back the overdraft and hope you get the money back long term, or stiff us and there will be no money to pay the rest of what we owe, as we have no assets that we can liquidate.

I guess it had to happen eventually, but on this occasion I totally agree with you.

But speaking as one of the ten current directors of the existing Supporters' Trust, pretty well all of whom are very busy with their day jobs, we'd need a lot more volunteers.

We actually already have an established vehicle, in The Bradford Rugby League Supporters Society Ltd (Bullbuilder). Some otehr clubs are already owned by their supporters' trust - but nothing anything on the scale of Bradford. The big question is, how many people would actually want to get involved, operationally or financially? I'm not at all sure as things stand I would. In fact, I very proabably would not. But that is me speaking in a purely personal capacity.

Best of luck people. It's not a great place to be in and I speak from experience but if you all pull together there is a future. Keep the faith.

Wouldn't the most obvious way out be to speak to the RFL about the debt we owe them? Why are they making us pay it all back in one go if it bankrupts the club?

Sad news, a big club, totally mismanaged which has no way of raising the money needed.

The RFL were paid back with the sale of Odsal. Why did they want their money back, because they probably have seen the books and did not want to loose it before the bank called time.

Not 100% on this but wasn't it said that any team in SL that went into admin/went bust/liquidiation would lose their Franchise,as I say not 100% on this.

More to this all than meets the eye, mate, I'm sure.