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Bradford Bulls deadline day: Latest updates
Bulls administrator Brendan Guilfoyle has warned that the deal for the club’s potential buyers would be dependent on conditions.
He explained that the RFL and the 13 other Super League clubs must consent to allow Bradford to remain in the top flight of English rugby league and permit the new owners to buy back the Odsal lease.
Guilfoyle confirmed: “For the deal to go through we need the RFL to agree to us remaining in the top division and buying the ground back from them.
“We need the other clubs to agree that Super League is a poorer place without us.”
The Rugby Football League released a statement after agreeing “in principle” to the Bulls administrator’s request to an advance of funds to help pay staff wages.
The statement read: “RFL representatives today met the administrator of Bradford Bulls for further discussions about the Stobart Super League club’s financial position.
“The RFL has agreed in principle to an advance of funds to help the club meet its payroll commitments to players on Friday, subject to the administrator providing additional information.
“In light of the delicate nature of the ongoing discussions, the RFL will be making no further comment at this time.”
Brendan Guilfoyle, partner at The P&A Partnership and administrator at Bradford Bulls Rugby League Club, today announced an extension to the club administration until Friday, July 27, subject to the Rugby Football League (RFL) providing funds to pay wages by end of play this Thursday (July 12).
Guilfoyle said: “We have approached the RFL to ask if they would advance payments to the club to enable us to pay July’s wages for retained staff and players on Friday.
“They have agreed in principle, subject to due diligence. We are very grateful for all their support – they have seconded a finance team to help us respond to all the requests for information.”
Guilfoyle explained that the extension is because they have serious interest from a consortium of Bradford business people.
He said: “This consortium has not yet made a formal offer. They want to see the full extent of losses expected over the next 18 months and ensure they have sufficient funds in place before making a formal offer.”
The T&A understands that Bradford-based restaurant chain Akbars are part of the consortium looking to buy the club but not necessarily the main players.
The RFL have sent staff up to Odsal to give the Bulls practical assistance with their finances.
Interim Bulls chief executive Gary Tasker met coach Mick Potter today to update him on the latest situation.
Tasker has confirmed that administrator Brendan Guilfoyle will seek to extend today’s deadline to avoid liquidation as the crisis-torn club seek to push through a sale.
Guilfoyle is currently holding talks with a Bradford-based consortium and is now awaiting to discover if they will make a firm offer.
Tasker said in a statement: "Mr Guilfoyle will seek to extend the deadline for the club going into liquidation whilst ever the positive dialogue continues.
"Positive talks were held yesterday with a group of Bradford-based Asian businessmen and these went on until late into the night.
"The group have shown genuine interest in taking the club forward and, whilst we are cautiously optimistic regarding the outcome of these discussions, the consortium will be holding further discussions today with the Rugby Football League.
"They will be seeking information from the governing body on the situation regarding the ownership of Odsal Stadium and will be discussing the Bulls status in the Super League competition going forward."
Bradford's administrator Brendan Guilfoyle says he can see "light at the end of the tunnel" in his battle to save the beleaguered Super League club.
Guilfoyle is anxiously waiting for a consortium of Bradford businessmen to put together an offer and, in the meantime, is turning his attention to finding the players' wages which are due at the end of this week.
The administrator, who made savings of around £45,000 at the start of last week by making 16 full-time members of staff redundant, insists he is still working towards tonight's deadline to avoid putting the Bulls into liquidation but is encouraged by two days of talks with a group of local businessmen.
"They're getting accountants and lawyers involved," said Guilfoyle. "They're trying to get a handle on the short-term losses and, if they can get that, I'm confident they will come back with an offer.
"That's the good news. The bad news is that the staff are asking for clarity on wages, which are due on Friday.
"Although I got 10,000 to come through the gate on Sunday, the cash take was disappointing.
"That indicates to me that the season-ticket holders used their tickets rather than cash to get in, contrary to what I was led to believe would happen at last week's fans meeting.
"After two weeks of administration I become legally liable for the wages and my challenge is to generate money to pay them.
"That's my immediate problem and I'm going to talk to the RFL and fans groups."
Guilfoyle is hoping for further developments later today so that he can persuade his partners to extend the deadline he imposed to find a buyer.
"I'm meeting my risk panel later today," he added. "There is no offer but I'm seriously engaged.
"I can see light at the end of the tunnel but that light can be turned out. The closer it gets, the harder it gets."