Have your say: We made mistakes, admit Bulls after £1m rescue bid

CHIEF executive Ryan Duckett last night admitted crisis-torn Bradford Bulls have made costly mistakes which have left them fighting to stay in existence but remains confident the club will survive.

The four-times Super League champions made the shock announcement yesterday that they need to find £1m to avoid going bust with half that amount required in the next 10 days.

If not, their traditional Good Friday derby against Leeds Rhinos at Odsal could, inconceivably, be the last fixture in their illustrious 105-year history.

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Desperate Bulls have urged supporters to pledge £100 each in order to try to avoid administration and the early response has been promising with one fan, Ralph Scott, gifting £5,000.

However, it has not deterred those same supporters from questioning how a once formidable club, World Club champions just six years ago, could have endured such an alarming fall from grace.

Although they have struggled financially in recent seasons, chairman Peter Hood insisted there were no pressing fiscal concerns when the Rugby Football League surprisingly bought the lease to Bradford’s Odsal ground in January.

But, just a few weeks on, they are on the brink of disaster after recent pressure from their lender, the Royal Bank of Scotland, intensified a cash-flow issue already problematic given a drop in season-ticket holders from 10,000 to 7,000 in 2012.

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Chief executive Duckett told the Yorkshire Post: “The club does have to take some responsibility ultimately for what has happened.

“There are some decisions which we would make differently if we had the chance again,

“But our form on the field over the last three years, when we have failed to reach the play-offs, hasn’t helped and, obviously, the economic downturn is affecting a lot while we had a long-running legal issue too.

“The Odsal deal was the right deal at the right time; it helped us settle some long-term liabilities.

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“But we need £1m for the short-term after some unexpected issues came up regarding our tax bill involving image rights.

“Unlike 80 per cent of Super League clubs, we haven’t got a benefactor who can write us a big cheque in these instances.

“It is a radical message we’ve put out there – there may not be any more Bradford Bulls – but we had no choice.

“The passion people have shown so far and some of the numbers pledged make me feel very confident we’re going to get through it. If we can, we’ve a sustainable long-term plan.”

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The legal issue surrounds the complicated compensation deal agreed with Leeds Rhinos over the Iestyn Harris saga.

However, the Yorkshire Post understands that amounted to around £600,000 which is less than what Bradford received in the interim from the combined sales of stars such as Stuart Fielden, Lesley Vainikolo and Sam Burgess.

It was also fully paid off more than a year ago and, perhaps, the surprise release of Bulls captain Andy Lynch to Hull FC for another six-figure fee just this winter hinted cash-flow problems were more acute than previously suggested.

Duckett insists there will be no player departures to alleviate the current woe, although big-spending Warrington Wolves are already admirers of talented 18-year-old back-row John Bateman.

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The squad, who play at Hull FC on Friday, have been paid for March but no promises have been made about next month’s money.

Bulls winger Karl Pryce told the Yorkshire Post: “I’d do whatever I could as long as it’s reasonable.

“We’ve not talked about deferring wages yet as the pledge scheme is just up and running.

“But I’m a Bradford lad and the bigger picture is keeping this club going, whatever it takes.”

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An RBS statement said: “We have been aware of cash difficulties faced by the Bulls for some time and have supported them through the last few months.

“However, the Bulls’ main security was the lease on the stadium which they have recently sold and we have not been provided with replacement security to date.”

Both Wakefield Trinity Wildcats and Crusaders were hit with point deductions for entering administration last year. However, the RFL – while currently continuing to support the club – could revoke Bradford’s Super League licence if they go bust as they have vowed to take a tougher line.