Peter Hood today warned that another season of failure was “simply unthinkable” after the Bulls reported increased losses and a fall in turnover.

Bradford’s accounts for the 2010 financial year revealed losses of £311,403, compared to £78,728 in 2009, while turnover fell from £4.6million to £3.96million.

Yet chairman Hood cited mitigating factors for the slump – as 2010 saw the Bulls pay the second, undisclosed instalment of a three-year compensation package to rivals Leeds over the Iestyn Harris transfer wrangle.

It was also the first year since 2003 that Bradford did not benefit from £334,286 of non-cash deferred income arising from the club’s return to Odsal.

Furthermore, the 2010 campaign marked the Bulls’ lowest crowds of the Super League era as the average home gate dropped to 8,434.

That left Hood to acknowledge the importance of Bradford – who have recruited six new players and will again spend close to or up to the salary cap in 2012 – emerging as a serious force once again.

Hood said: “The average Super League club lost £553,879 in the same period last year, so we did better than most, but our football hasn’t been good enough for too long and we know that.

“Yet Mick Potter is confident that is going to change next year on the back of the new signings we have made. I think fans can see the efforts being made to put things right on the field.”

* Read full story in today’s Telegraph & Argus