This is the tale I was told about the ground sale / lease deal, :-
`I was told the financial reasons why the RFL had to buy Odsal at the time of the deal going through. It now makes even more sense and it could be argued that the RFL have recovered from a poor situation. Bradford apparently approached the RFL after Christmas in early 2011 prior to the new season starting. The RFL loaned Bradford £ 700,000.00 in order for the club to continue trading, Bradford did not meet any of the repayments and the RFL realised that they were not going to get this money back and what ever assets the loan was secured against could only be realised if Bradford was liquidated. Move forward a year and Bradford are still in problems, low crowds , huge debt, creditors chasing etc etc. They again approach the RFL who see an opportunity to get their original £ 700,000loan back. A deal is agreed Bradford sell the ground to the RFL for £ 1,200,000. The RFL contra the £ 700,000.00 and hand over the £ 500,000 balance and get the deeds to the ground. Good deal by the RFL. `
Pledge paid. Not difficult if you read initial instructions. Lets get this cash in and stop the in-fighting please. The Team are gelling and the good times could be on the way back.
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