The full reply from Bradford Bulls.
Hello again, a few days ago Andrew Bennett said he would send me a full reply to my queries about our club..
That reply has now come. He at no point asked for anything to be in confidence, so I’m happy to share his thoughts with you.
They do make interesting reading, and his thoughts on Mr Caisley show that any proposed board change would lead to Bennett leaving.
Email below, what do you all think?
Hi Tony,
Many thanks for your communication.
Humble and gratitude definitely the way forward.
I am a very serious proponent of fan involvement. If it were up to me I would propose a rights issue with immediate effect. But, the problem is other shareholders and dilution of their shares. We would have to get a resolution passed with over 75% of shareholders, which may prove to be a bridge too far. In the meantime we have agreed to have regular meetings with Bullbuilder and the last one, over 3 hours was very open, honest and we thought productive. We need to hold more regular fans forums (more than 2 per annum) and possibly have set, specific topics for each one rather than trying to discuss and cram in the whole shooting match at one event.
I am always the optimist Tony, but this will not be easy. My very profound concern will be that Mr Caisley and his “Survival Package” which is currently one of only a limited number of options, will consist of a review of the business with the foregone outcome that it needs to go into administration. And, this would be desperate because of several issues. The RFL may not grant newco the licence, there is a contract with the RFL that if the ground is ever re developed or sold, that they must provide us with a stadium of the right standard with a minimum capacity of 18,000 and this will go out of the window. Caisley had his run in with the RFL over the Harris affair and may not be an individual “fit for purpose” to run a rugby club under RFL rules.
If Mr Caisley can manage to do a “Pre-Pack” buy back out of admin he would become sole shareholder and have way too much power. Lots of issues Tony.
I’ve worked for this Club for 3 years, on average 4/5 days per week, the first 18 months commuting from Bath; purely for the love of the Club (no income or expenses - not a penny!). I’ve been a Director now for 2 years and take it from me as a business man who owned, then sold a £60,000,000 company on a full listing and thus ran a public company, this business was in a right mess and we have performed miracles to keep it going so long. To have in place a plan for this season then have £500,000 of working capital pulled out like the rug from under your feet, without notice and in such a short space of time proved to be the last straw. Those are the excuses and they are valid.
The sad thing about it all, when you take into account our dreadful injury situation, we have just started to show a glimmer of light on the playing field! Glass half full!
Many thanks again for your commitment and support Tony and if you see me around after the game come up and say hello.
Kind regards,
Andrew
tonybates.tumblr.com/
Fair point.
