Indeed. Hood sort of suggested that.

But banks don't normally call in an overdraft unless there has been a breach of the facility agreement, or the facility has expired and they decline to renew it. More information, in this as in many aspects of all this, badly needed.

5th April just happens to be the last working day before Easter. I suspect the timing of Easter has as much bearing on it as anything.

Would the bank call in the overdraft due to us selling our biggest asset? the ground lease. Thus increasing our risk to them? Has solving one problem caused another?

That was precisely what I had been wondering.

Is it not that wages are due on the 14th, they want a few days to get cash into the bank to pay out, they are letting us know the pledge total on the 9th so the deadline is the 6th?

Why £500k though. The salary cap is maxed at £150k per month. The T&A quoted a much larger staff payroll though - up to about £200k total. Why do they need the other £300k?

Would we start to pay the RFL lease quarterly from April?
Do we owe someone else money? We seem to have paid our long term dues to the RFL & other clubs.
Winter wasn't that cold so it can't be the gas & leccy bill.
I just don't know.
We shelled out for the 5yr deal 6months ago so we have already advanced (effectively) an extra £800.
I could give them another £200 but want answers first. not just another bl00dy pledge!

The game needs a strong Bradford club and every attempt should be made to ensure its survival. Another poster recalled the late great Trevor Foster who rallied the fans to save the club in 1963. I remember that occassion and suggest a new figure head should be now be found and fast. With the internet and rugby web sites it should be easier to communicate with fans than back in Trevor's day.

If sufficient loyal fans can sign up to some sort of commitment, subject to a solution being found, then this could be presented to the RFL. But IMO any financial commitment should not be to pay off old debts run up by incompetent management. It should be used to support a new venture as shareholders who could perhaps buy the assets from the administrator. If you can get the media behind the campaign it could gain sufficient momentum to persude the RFL to allow the new club to take over the SL franchise. But time is short and what is needed is a steering committee whose first objective is to negotiate and buy time. Good luck

The bank has come out this not looking too bad.

Isn't RBS partly public owned? Surely its not in public interests to see a large top flight sports team completely disappear, baad for the economy and a city with not much going for it. Obviously they have the right to withdraw an overdraft facility but there hasn't been much discussed about why.

I keep wondering "What's to lose?". If they dont get the £500k then I dont have to pay. If they do then surely £500k should be enough to save the club and I would be happy to pay more than £100 to do that.

But the club say they need £1m. That seems mind boggling to me. How can a cash injection of £500k not be enough to save a club the size of the Bulls? And unless they can demonstrate how they can get from £500k to £1m I might just be throwing my money away.

It comes down to an issue of trust. Without a lot more info from the Board I cant bring myself to do it.

To be fair, it's not the Bank's job to fund failing sports teams.

If a bust taxpayer owned Bank took it upon itself to bankroll bust union clubs, I'm not sure we'd agree it was the best use of taxpayer cash.

As I said on the VT, we don't know what the "urgency" is - I'm sure the Bank will have issued the Bulls board with more than one ultimatum, they won't have just woken up one day and decided to cut their working cap facility and screw the club.

The "urgency" could very well be entirely of the Bulls' making, if they haven't addressed the Bank's concerns adequately over time and if brinksmanship has led to this current plight. The Bank's concerns are likely to have been wholly legitimate too, given the perilous state of the club's finances.

I'd expect they're hoping to take alot on the gate and in the shop vs leeds to help out.

True, and well put.

Im pretty sure thats what the issue is, in which case, did we not discuss the situation with our bank?? and if not, why the feck not? And if we did why are we here now? Lots of questions I don't expect an answer to.

I'd lose my house if I treated my credit like this I reckon. I've pledged but I'm not happy with my own decison, will still help, donate to an escrow, whatever else comes out of the bullbuilder/other group discussions.

Sorry to hear guys. Hope it gets sorted. Best of luck.

There's already 2 threads on the Leeds site about which Bulls players they would have when we go under, Vultures turn my stomach. I bet that slime ball Hethrington is enjoying all this.

As for all the good wishes from the proper RL fans (including Rhino's fans) from other clubs, many thanks it is appreciated.

I was just thinking what I would do if this was Saints.

I would share all the concerns about whether my £100 meant anything, or whether the morons in charge would even know what to do with it.

I would end up donating though because:
a) I can afford to, and
b) If I didn't, and rather than rising from the ashes my club disappeared, I would never forgive myself.

I know that probably makes me a mug, but blind faith tends to be what supporting a sports club is all about.

I do hope the Bulls pull through, however we do remember a certain Mr Caisley voting for our demise when we were in a similar position. I am sure we would vote to keep you in however.

was shocked when I read the news and We at the DONS have had our fair share of financial problems over the course of our existence, hope you get sorted cos the game of Rugby League wud be alot poorer without the Bradford Bulls.

I feel for your fans but who can afford £100 pounds this day and age .With all the cuts and money is tight .Just hope you get it sorted .Will be ring our friends tonight they live in Idle .Hope to come to Bradford this weekend Frank and I will be having a chin wag about it all .We go in Oddfellows for lunch been informed they had the deco changed .Good luck to you all hope things turn out right for you Ray

Maybe.

Looks like you're spot on:

so the thing that was supposed to secure our future has done entirely the opposite.......idiots!!!!

Says it all by the board really.

So they sell the ground lease to fund long term debt, yet do nothing about the short term, sounds like a very incompetent BoD

Confirmed by Duckett too. So the management is that inept they didn't even have that conversation with the bank and now expect supporters to bail them out. Unbelievable.

The Lord Mayor of London is backing the pledge, the word really is getting out, as is Stuart Fielden.