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Bulls Administrators Continue To Work On

Bulls Administrators Continue To Work On "The Right Deal"

Friday 16 Dec 2016 5:18pm

FOLLOWING Wednesday’s statement the due diligence is ongoing with preferred bidders.
The Joint Administrators had set a revised deadline of today, being Friday 16th December 2016 to complete the process of due diligence with the preferred bidders to purchase the Club.
Unfortunately, it has not been possible to complete the due diligence process in the time available. That is a consequence of the complex issues, which have been disclosed to date.  
The due diligence will continue over the weekend and into Monday 19th December 2016.  
The Joint Administrators have continued to work very closely with the Rugby Football League, Bradford Council and Judith Cummins MP. There has been an ongoing and extensive dialogue between all of those parties, plus the preferred bidders. 
Mr Gary Pettit  of PBC Business Recovery, Northampton, who was appointed one of the Joint Administrators, said: “I wanted to clarify that whilst we had hoped to make a major, positive announcement today, everyone is going have to remain patient. My legal team and my colleagues will continue to work hard over the weekend to give every prospect of success for the survival and renaissance of the Bradford Bulls.
“Obviously, we wish to end the uncertainty for all concerned as quickly as is possible. We recognise and understand the human aspects for everyone (and their families) who has the best interests of the Bradford Bulls at heart. 
“I would reiterate that it is crucial we obtain the right deal - rather than the quickest deal - for the Club’s future. 
“I am confident that there is a potential framework in place to protect the legacy and proud traditions of the Club. I know that the RFL have been in direct discussions with the soliciotrs who are acting for our preferred bidders. 
“As I said on Wednesday, our preferred bidders wish to have future supporter representation upon the board of directors. This is aimed at driving future transparency and accountability.
“I would again wish to thank the players and staff at the Club for the professional way, they have dealt with the Administration. I remain impressed by the dedication and sheer graft exhibited by the players and staff against an uncertain background.”
Ralph Rimmer, Chief Operating Officer of the RFL, said: “We are continuing to work extremely hard with the administrators to try and find a positive resolution for the club.
“We understand that this is an incredibly difficult time for supporters, players, staff and their families and we thank them for their patience whilst we undertake this important work over the coming days. As we have previously promised we will try to keep them all updated with progress as and when we are able to.”