Found these snippets made by Addybull at the time of our second crisis;
[i"OK Bulls Ltd has a
substantial deficit of shareholders' funds, built up under OK, and arising principally because the money he put into the club was in the form of
loans NOT as share capital.
The club has no money; OK has no money and the two remaining directors clearly do not have the money to run the club or they would have bought OK out;
If the rumours that the RFL have been paying the wages since Aug who is going to be left to pick up that debt and I bet that will be one point raised by some of the other clubs at the RFL meeting next week?
No way on God's earth would OK ever have stepped back in.
After the financial mess the business seemingly got into under his and the invisible Gerry's control. The guy is (or was) in a corner, and the only outcomes for him financially are poor, whatever the result. If someone else did not step in, he'd end up with an insolvency on his hands and he'd lose every cent.
Looking at a business with a net worth after
just 12 months under OK's control of minus £1.2m (based on what has been reported) would say that is the very best OK can expect. And no level-headed businessman, looking at having to find ongoing funding at least till 1 November, would pay him more than a notional £1 for his shares."[/i
As far as I am concerned Khan was responsible for the darkest days since 1963, anyone who attended the first "Evening with the Bulls" were given a very brief glimpse of what he did, delivered with passion and deep feeling, and I suspect only the tip of the iceberg.
He took out far more than he put in, treated the staff like S**T and made some appallingly bad decisions. He used the "C" word as a comma in his sentences and was an embarrassing ambassador for the club.
I am amazed he has gotten so far, if my memory serves correct, much of the paperwork (accounts) under his ownership has either "disappeared" or we never recorded in the first place (what a surprise!). I remember that the bars made a "loss" while he was there - well really ???
OOh and another shock - out comes the racist card too.
Anyway - he has persuaded someone he is in the right (so far) and it will be interesting to watch events unfold.
I for one cannot tell who (if either side are) telling the "truth"
