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SBD Global/June 27, 2012/Finance

Bradford Bulls Go Into Administration

Rugby league club Bradford Bulls have entered administration with "a grim warning that one of Super League's most successful clubs will be liquidated unless a white knight comes forward" in the next 10 days, according to Andy Wilson of the London GUARDIAN. New club administrator P&A Partnership Brendan Guilfoyle said, "We now have just 10 working days to save the club from liquidation because there are no funds to carry on longer." Former Chair Chris Caisley "would now appear to be their last hope." He has been working with the other remaining directors and is "understood to have an agreement" for former coach Brian Noble to return in a management role. However, they have "failed to raise the seven-figure sum necessary to secure the club's future" (GUARDIAN, 6/26). Also in London, Ian Laybourn reported that Bradford currently owes £98,000 ($153,000) in pay-as-you-earn tax from May and the same amount for June, plus an outstanding value-added tax bill of £250,000 ($390,500) from the sale of the Odsal lease to the Rockford Football League, while the monthly wage bill is more than £200,000 ($312,000). Bradford is the third Super League club to enter administration in the last two years (INDEPENDENT, 6/26).
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