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Bradford Bulls chief executive Robbie Hunter-Paul admits: "This has been the longest week of my life."
Bulls chief executive Robbie Hunter-Paul has issued a statement confirming a number of cost-cutting measures have been made at the cash-strapped club.
At a fans forum last Wednesday, directors informed season-ticket holders that the club must slash £400,000 from its budgets over the coming 12 months in order to ensure survival.
A number of cost-cutting measures began this week, including staff redundancies, wage reductions - based on hours worked - and overall budget cuts.
Hunter-Paul also denied that the board has taken the decision to enforce a wage cut across the first-team.
“This has been the longest week of my life but ultimately important for the club’s future,” said Hunter-Paul.
“It is a really sensitive time for all as we have had to deal with some uncomfortable realities.
"Last week we explained to supporters, face to face, at a fans' forum, that as a business we needed to make some tough decisions which would result in job losses in order to secure the club’s long-term future.
“It has been well documented that the current board found themselves working with inherited budgets, set on unrealistic financial projections that were simply not reflective of where the club currently stands.
“Surprisingly there was a fair amount of misinterpretation from members of the media this week, suggesting the board had ‘told players they would need to take a wage cut’.
“That was completely untrue. The truth was that it was suggested, by members of staff, that before the necessary cuts were made could the board ask all business units mangers and staff – that were higher earners – to take a ten per-cent wage cut. That included me, as CEO.
"As a business it was not embraced across the business and so the other measures were implemented.
"The streamlining process, which is designed to cut costs and reduce the unrealistic budgets set by the previous administrators, is now underway.
"The process is ongoing here but at this stage there has been no player movement whatsoever and Francis Cummins' squad is continuing to prepare for Super League XIX."
As it stands, head coach Cummins' roster remains fully intact ahead of the new season.
However, given the club's current financial position, future talks with regards to players being transferred elsewhere are not being ruled out by Bulls officials.
Hunter-Paul continued: "As we have already stated, we simply are not in a position to discount potential discussions with other clubs but as of yet we have had no approaches.
"The facts are that the majority of clubs in our division have also spent up to their respective salary cap limits or have no overseas quota spots available.
"We believe it is important for our major stakeholders, the supporters, to understand the club's position.
"We have found ourselves here for reasons which we have already disclosed and we are taking the necessary steps to put things right.
"However, we are not standing still. This has been a major untangling process but we are moving forward.
"We are constantly communicating with our media partners, while driving our message through various media channels.
"And we are continuing to drive our community re-engagement efforts, via our BELONG campaign and most recently our Christmas Charity Appeal.
"Commercially, we are now heading the right direction and, come the New Year, we will be in a position to formally unveil a brand-new portfolio of major partnerships."
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