Maybe so but, if there is only one deal on the table, then they will automatically be getting the best deal for the creditors, regardless of how good the offer may seem.

If the RFL were just another creditor then I'd agree. But it isn't. It's the governing body of the sport that the Bulls - in whatever form they might go forward - play in and it's decisions/opinions will directly impact any buy-out. In this instance it seems to me that a small amount of flexibility would help.

Just out of interest - how does the administrator get his fees? If they liquidate, how does his firm get paid? If they're bought out do the new consortium pay the fees? They're pretty steep too I'd imagine.

The administrator get's his fee before creditors receive anything from the assets of the business.

Yep, they get the first slice of the cake, then probably the bank and there is probably no need to go any further down the list.

In some cases where a company has not already drowned, the preferential creditors will be paid up and what is left in the pot is shared, by percentage, amongst the rest.

Usually though, there is nothing left to share out.

So the administrator must be collecting fees now? If Bradford are bleeding money he's not going to wait until the liquidated end when there could be nothing left. I'll have a google at it all - fascinating stuff.

Obviously he cant work for nothing and he will make sure that whatever happens, there will be monies available to pay his fees.

If a buyer isn't found and the business is liquidated, then everything would be sold ie players and any other assetts so there is no doubt that they the administrator will be paid.

No one in their right mind would buy a player from Bradford at the moment and to be honest even the players would be better waiting to get a bigger signing on fee.

Except the creditors will need to be convinced that the best solution is for ABC to trade the club out of difficulties. I have seen administration rejected by creditors because quite simply, they want their money NOW

Thats not going to happen here.

IIRC itb was HMRC that issued the winding up order and they have agreed the extension and there is no point in any other creditors tring to wind them up.

When is an offer in fact not any offer at all?



Answer: when it's the "offer" for the Bradford Bulls.



"a spokesman for joint administrator Brendan Guilfoyle, of The P&A Partnership, said the offer from ABC was only an “indicative bid” and a “starting point for discussion” rather than a formal offer."

27th of July is a few days away.......or will there be yet another extansion on an extension with a bucket collection as well