- Mobile site
- E-Newsletters
-
- News feed
- Find us on Twitter
@Bradford_TandA
All the latest news and views from the T&A
@tandasport
All the latest sport from the T&A
@TandABusiness
Latest business headlines from the T&A
- Find us on Facebook
The Telegraph & Argus
Like us on Facebook
What next in Bradford Bulls crisis? (From Bradford Telegraph and Argus)
Get involved: send your pictures, video, news and views by texting TANEWS to 80360, or email
Stephen Coulby outlines concerns for Bradford Bulls in advance of EGM
7:00am Thursday 3rd May 2012 in Bulls
By Ross Heppenstall, Bradford Bulls Reporter
Stephen Coulby and Peter Hood are at loggerheads over the financial situation at Odsal
On December 13, 2011, Peter Hood and Stephen Coulby dined together at a restaurant in Leeds.
Concerns about the Bulls’ financial health had begun to mount.
Hood admitted to Coulby, the club’s former vice-chairman, that “times were tough”.
The pair spoke for three hours.
Relations were cordial.
“I suggested to Peter that, for the sake of the club, all stakeholders should be brought together as a matter of urgency,” recalls Coulby.
“Peter felt there was no chance of getting Chris Caisley to attend but I assured him that was not the case.
“Peter agreed that some good may come from such a meeting and promised to get back to me after Christmas.
“We shook hands, wished each other a happy Christmas and said our farewells. But I’ve never heard from him since.”
Five months on, Coulby and several other shareholders, together holding over 50 per cent of the club’s issued shares, forced Hood to convene an extraordinary general meeting, scheduled for May 23.
The meeting would certainly see Hood and fellow director Andrew Bennett voted off the current board, although it is understood they are considering stepping down before then – possibly after Sunday’s match at London Broncos.
Coulby, who served on the board at Odsal for 15 years before standing down in August 2010, says calling the EGM was a “last resort” after Hood sold the Bulls’ 150-year lease of Odsal to the RFL.
He explained: “The last annual general meeting of the company was held on November 7, 2011.
“At that meeting, Peter was specifically asked whether any plans by the directors to permanently move the club away from Odsal would be brought before shareholders prior to any decision being made.
“He responded by saying that any such plans did not need to be put to shareholders if the directors did not wish to do so.
“It was suggested to him that such an important decision ought to be put before shareholders but Peter disagreed. That showed utter contempt to all shareholders in the company.”
Coulby understands that Hood met with Bradford City joint-chairman Julian Rhodes towards the end of last year and asked if the Bulls might potentially move to Valley Parade on a two-year temporary basis.
Coulby believes that within a matter of weeks a second meeting took place at which Hood enquired about a permanent move.
He explained: “I am led to believe that the first meeting saw Peter talk to Julian Rhodes about a temporary, two-year move by the Bulls to Valley Parade from 2012 because a developer was at an advanced stage with plans for Odsal.
“A short time later, though, this somehow changed to a need for a permanent and immediate move to Valley Parade, without reference to the supposed developer.
“Then in January of this year Peter announced the sale to the RFL of the club’s long lease of Odsal, under which the club previously paid no rent.
“We have given up a valuable asset and, what is more, ended up paying a rent to the RFL, whereas we previously paid no rent at all.
“Where is the sense in that? Was Peter already in talks with the RFL at the time of the AGM?
“It was stated at the time that this had been done to ‘fight off predators’ and at the fans’ forum held on February 1, Peter dismissed out of hand suggestions that the move had spared the Bulls from serious financial problems.
“He denied it was a ‘bail-out’ but within a matter of weeks, on March 26, the club finally came clean, stating an immediate need for £1million to stay in business, this of course being in addition to monies received from the sale of the lease.
“Rumours persist that the financial position is much worse than stated and the fact that Peter seems determined to remain in situ only heightens our concerns when, at best, the club appears to be surviving on a day-by-day basis.
“The supporters need to know after their tremendous efforts in raising money that the club is safe, otherwise they may as well have thrown the money they pledged and paid down the nearest drain.
“We are told by the directors that they have a number of options on the table, with a business plan going forward, but such statements are not factually supported.”
Coulby insists he and his fellow shareholders are determined to avoid taking the club into administration.
He says they have held talks with a number of potential investors.
But he adds pointedly: “Any potential investor will need to be assured that the club can move out of its present financial difficulties and that any investment is going to be worthwhile. That is why we need to know exactly what we are dealing with.”
Coulby adds: “The calling of the EGM is not the action of ‘Chris Caisley and a handful of cohorts’ as Peter called us.
“It’s a group of people who want to get to the bottom of what has gone so badly wrong and who want to advance discussions with interested parties before it is too late.
“It is already over four weeks since Peter was first asked to step aside, time that could have been used to the club’s benefit, and rumours of the sale of certain young players are frightening in the extreme. We must avoid losing our best talent if at all possible.
“In the past six years the club has gone from world club champions to relying on bucket collections and the tremendous goodwill of supporters for survival. It now needs a long-term policy to restore former glories.”
Comments(36)
IDLEBULL
says...
7:21am Thu 3 May 12
flashdonut
says...
7:50am Thu 3 May 12
Mumby was the best
says...
8:16am Thu 3 May 12
But serously this is a mess.
Wots up
says...
8:16am Thu 3 May 12
pjbull
says...
8:19am Thu 3 May 12
Steam Pigs
says...
8:23am Thu 3 May 12
When was Parkin on the scene making noises about buying us (Odsal)?
Holmesy
says...
8:44am Thu 3 May 12
I clearly remember two years ago speaking to Ryan Duckett and asking the chairman to come clean about our perilous state in the press and nothing. The simple truth is he and Bennett have balls it up and peddle the Harris saga has the reason we are in the mess. This despite being chairman for six years. He's a joke. He tells us nothing as supporters and even less if you are a shareholder. OSV, Valley Pararde, securing Odsal this fella has been all over the place while Rome has burnt to the ground on the pitch and we are also-rans now. Talk about mismanagement. The simple reality is when he became chairman we were World Champs now we are skint chumps who at best get people's sympathy...it's embarrasing. And he hasn't gone until he knows he has to, this is simply down to stubborn pride. I'll tell you the response Hood will give...." I will give a full explanation of the events at the EGM.' Mr Charismatic strikes again!!! Just go Peter it really is getting pathos now.
A650
says...
8:53am Thu 3 May 12
Instead we're got rival camps plotting against each other and briefing the T&A. Meanwhile the club lurges toward disaster.
Shame on the lot of them.
Mumby was the best
says...
9:02am Thu 3 May 12
A650 wrote:Agree with you. Don`t agree there are lovers of one side and haters of the other by most fans, they wish they could get everbody in a room and bang their stupid heads together and sort it out for the benefit of the club.
Fact is that all the directors, past and present, should have been working together to stop the rot.
Instead we're got rival camps plotting against each other and briefing the T&A. Meanwhile the club lurges toward disaster.
Shame on the lot of them.
But if the club goes into admin there will be haters of whoever does it.
Old Dave
says...
9:33am Thu 3 May 12
Tricky Dicky
says...
9:36am Thu 3 May 12
pjbull wrote:And the truth will set us free.
Interesting and worrying..... but that is only one side of the story. To take an objective view, we could do with Peter Hood's explanation. It is unfortunate that imparting information has not been the Club's strong point, which leads to rumour and speculation. Here is a perfect opportunity for the Club to make a counter-statement and end all speculation whilst, at the same time, informing the fans of the precise situation; isn't that thethe least that the fans deserve?
You will get Peter Hood's version of events, as you have been getting all along, via Adeybull's postings. They have always been Peter Hood's version of events. Who do you believe? Well, that's your choice but has Peter Hood always been transparent and copious with the truth?
Solomon Grundy
says...
9:47am Thu 3 May 12
He is always scheming, always trying to twist his way out of things one way or the other.
I just hope he has the decency to go now.
Old Dave
says...
9:50am Thu 3 May 12
Tricky Dicky wrote:I read Adeybull a lot, both on here and on Rlfans. he is a very intelligent and reasonable person who considers carefully what he posts. he is not a mouthpeice for hood. he simply takes on board the info that is shared with him, and uses his considerable knowledge and intellect to decide what makes sense. I beleive he's an accountant, or at least involved in the financial side of business, and he has provided many of us with accurate assessmnets of what he thinks, based on evidence presented to him, rather than tittle tattle on a web forum. What would appear to be the case is that Hood has misled him and the bullbuilder people as much as the rest of us. If I know adey as well as i think, based purely on interracting online with him, he will be on here soon, admitting that today's revelations might make him look a little naive for believing what Hood, Bennett et al told him!
pjbull wrote: Interesting and worrying..... but that is only one side of the story. To take an objective view, we could do with Peter Hood's explanation. It is unfortunate that imparting information has not been the Club's strong point, which leads to rumour and speculation. Here is a perfect opportunity for the Club to make a counter-statement and end all speculation whilst, at the same time, informing the fans of the precise situation; isn't that thethe least that the fans deserve?And the truth will set us free. You will get Peter Hood's version of events, as you have been getting all along, via Adeybull's postings. They have always been Peter Hood's version of events. Who do you believe? Well, that's your choice but has Peter Hood always been transparent and copious with the truth?
Adeybull
says...
11:48am Thu 3 May 12
.
And yes mate, I'm an accountant - and have worn a load of commercial hats too. Heavy marketing involvement as well, especially right now. operated at FD level for years. That's why I tend to concentrate on financial and commercial aspects, and leave the rigby to those who know a lot more than me.
.
Anyway, I posted this in another place earlier today. I'm extremely busy at the moment, so time to post stuff on internet forums is limited (may be to the relief of more than a few...) hence I'll not apologise for copying it on here to save time.
.
.
Nothing wrong with Coulby making those statements, in what I presume was an interview with the T&A. Similar to what he did with the YP a couple of weeks ago. And nothing much wrong with the T&A reporting of it - seemed mostly lacking in spin.
.
We have to bear in mind that it is one man's position; there may be contradicting positions from other parties.
.
But, regarding that, the silence from Hood has been deafening. Seeing the guy at matches, he looks to be in a very bad place right now. But he can hardly complain if the guy that one of the EGM resolutions proposes to be the new chair is taking the initiative by getting his POV across though the media - he has just the same opportunity, surely?
.
Coulby's comments, taken as they are reported, come across as very reasonable. Indeed, if they are both complete and truthful, they are quite a damning indictment of Hood. I just hope that, for the sake of the future of the club, they are also honest and at least reasonably objective (although they would raise a lot of questions about recent events!) and that we supporters are not being taken for fools again.
.
I've sort of formed the view that Caisley has appreciated that he is not viewed by the majority (although far from not all) of supporters as being blameless regarding where we are today, or as a knight in shining armour come to save us all. Indeed, I suspect he may have been a bit surprised at the strength of the reaction to his intervention, which intervention may or may not have sabotaged Hood's plans - we may now never know. That may explain the front role of Coulby?
.
It is (to me) extremely encouraging to see him reported as insisting that the shareholders are determined to avoid administration. You all know one of my main concerns about a Caisley-led takeover was that he might engineer administration. If that WAS avoided then - despite my very serious and expressed concern over Caisley's past judgment - as I have said that option would IMO be far superior to administration. I acknowledge that others...believe the only way of cleaning out the shareholding mess in the stables is administration. BUT I also note that the reference to avoiding administration is not a direct quote from Coulby, but the words of the T&A reporter - I would have felt far happier if he was specifically quoted as having said that. I also note that he has left himself a huge get-out, by pointing out (and he IS quoted on that) that the "investors" will need to understand the true position first. But that is, after all, totally reasonable and I would likely have said the same.
.
But I suspect we can expect more of this in the run-up to the EGM. As always, I'd caution anyone to make any hard and fast decisions based on a single statement or report. But, ATEOTD, people can only form views based on what information or opinion is made available to them!
.
ps. Interesting to note that Coulby now only owns a small number of shares. Seems he sold most of his original holding to Bennett (that was how Bennett got most of his holding) and to Hood, in the last few months. No idea how much they paid him for those shares, mind. But it was his share sale to Bennett and Hood that means they collectively have more than 25% which alllows them togetehr to block a special resolution at a general meeting of shareholders - same way as Caisley by himself can. So maybe some of his commments as a "shareholder" could be viewed as a tad disingenuous by those holding a contrary view?
Adeybull
says...
11:54am Thu 3 May 12
MeccaBingo1
says...
12:09pm Thu 3 May 12
locky1667
says...
12:36pm Thu 3 May 12
olicanabull
says...
12:53pm Thu 3 May 12
Shelfrhino
says...
2:01pm Thu 3 May 12
raisemeup
says...
3:02pm Thu 3 May 12
Supporters need to support the only objective we have before us to save the club. We have pledged and in a lot of cases paid. Why ask for the answers before the questions have been raised.
Just do it is my motto!
If we win the battle, fantastic. We at least can say WE as supporters did our bit!
If we lose then it's a sad day for us all, I personally don't want to even think we are going to lose!
pjbull
says...
5:07pm Thu 3 May 12
Shelfrhino wrote:Good post - Shelf, clear off.
Oh dear, what a carry on. How come Adey the all seeing oracle didn't see any of this coming? I fear a lot of you have been conned out of your money by this clown Hood. Surely it's time for bulls fans to make their voice's heard and demand this dubious bloke clears off.
Norsebull
says...
5:46pm Thu 3 May 12
Norsebull
says...
5:57pm Thu 3 May 12
TongLass
says...
9:12pm Thu 3 May 12
A650 wrote:how very true - however I think we should take a very large pinch of salt with claims about who has the best interests of the club at heart and who is on an ego trip...
Fact is that all the directors, past and present, should have been working together to stop the rot.
Instead we're got rival camps plotting against each other and briefing the T&A. Meanwhile the club lurges toward disaster.
Shame on the lot of them.
Tricky Dicky
says...
5:38am Fri 4 May 12
It is called a question of judgement and balance. Through your postings, however rambling they may be, you have shown that you are not impartial and, as such, it will always taint your judgement.
Adeybull
says...
8:15am Fri 4 May 12
.
Whether my postings are "rambling" or not is for others to judge. I can see from comments on here at various times that some find them to be a meaningful contribution. I don't recall seeing similar comments about yours.
Adeybull
says...
8:25am Fri 4 May 12
olicanabull wrote:That's an interesting and plausible alternative interpretation, and you speak as someone who maybe knows this to be so?
Adeybull, you speculate that Caisley may have been taken aback by the strength of the reaction against his proposals, and hence Mr. Coulby is taking a more prominent role, diverting attention from Caisley himself. I think the explanation is that Mr. Caisley does not want the lead role on other grounds, but it is up to him to explain what these are. To ask him to do so is not unreasonable given his prominence in this whole affair.
.
I think you make a very good point indeed - it would I think very much help people's attempts to interpret what is going on if Mr Caisley WOULD make his personal intentions in his hoped-for outcome more clear.
.
If, for instance, he said he had no wish or intention to return as Chairman, or maybe even as a director - and explained why - but said he WAS seeking to put in place a team that he believed would be best-placed to take the club forward and get us out of the financial mess, I suspect many of those who have expressed varying degrees of concern at his return might reassess their stance?
olicanabull
says...
9:03am Fri 4 May 12
You are asking for an honest and open statement from Mr. Caisley which might go some way to reassuring fans who are worried about his intentions. But isn't this what we have been asking for all along from the present board. Transparency is at a premium with both the present and past boards but now the situation has changed: in an unprecedented way, at least since 1964, we now have a degree of fan involvement, and these fans deserve to be taken into the confidence of the leading contenders for the directorships. £500,000 should talk and the directors should listen.
Norsebull
says...
9:38am Fri 4 May 12
Adeybull
says...
12:51pm Fri 4 May 12
.
Norsebull: I never saw that statement from Caisley re being chairman. Had I have done so, my own view may well have been different - and I suspect so might those of others.
.
I think it would be REALLY helpful if Caisley could put a bit more meat on the bones as regards his intentions. I think Hood has already made it clear that he does not expect to have any intentions post-EGM.
Adeybull
says...
12:51pm Fri 4 May 12
.
Norsebull: I never saw that statement from Caisley re being chairman. Had I have done so, my own view may well have been different - and I suspect so might those of others.
.
I think it would be REALLY helpful if Caisley could put a bit more meat on the bones as regards his intentions. I think Hood has already made it clear that he does not expect to have any intentions post-EGM.
theviking62
says...
1:47pm Fri 4 May 12
theviking62
says...
1:47pm Fri 4 May 12
Adeybull
says...
1:59pm Fri 4 May 12
.
I assumed at the time that was disingenuous, given previous reported comments. I honestly never saw anything saying he would definitely not seek to be the main man returning. I would certainly have assessed the situation differently had he specifically stated that.
.
Where did he state that he was not interested in being chairman, because I obviously missed it as did loads of others?
arhmen aleg
says...
3:55am Tue 8 May 12
As a fellow member of the league of accountants you know full well the UP TO DATE financial position could be determined very easily by putting todether a draft current Balance Sheet.
i cannot see there are any particular peculiar aspects of a rugby clubs operations that would prevent that in a day or two.
So why is there no honesty and transparency from the directors.
Half a milliom by many poor and desperate people would surely be worthy of disclosure.
The fans money will ultimately save this proud club from going under.
Hood Caisley and the Bates family shareholding must surely be pretty wothless right now.
But here we seem to be seeing that they all seek the power and the glory when the ultimate reward for the club should be that those that have invested are allocated shares.
opportunism for potential future milking of the wholly cow should be stamped on.
If I had pledged or given I would want to know where the brass was going.
Not hopefully, to repay directors loans or reduce the overdraft to release charges on drectors homes as could be happening
The supporters and the genuine would be fairly peed off if this were currently happening.
Thought Hood was an accouintant?So where are the bloody numbers when he is asking for a million quid.
God knows how these idiots ever get involved
mumbyfan says...
7:08am Thu 3 May 12