Sorry 'Spymaster' but it can't be blamed on the bank. If the Directors of Northern knew that the bank was relying on their Lease of Sodal as security for their overdraft then they must have realised that replacement security would have been required after its sale to the RFL. Supported personal Guarantees by the Directors would have been sufficient but why did the Directors not consider this as an alternative? Perhaps they did yet still had little faith in their 'Business Plan'.
Then something else hit me this morning: Dave Hatfield's article in today's Independent:
[urlhttp://www.independent.co.uk/sport/general/rugby-league/bradford-bulls-ask-fans-to-raise-1m-or-club-will-fold-7593459.html[/url
Check the penultimate paragraph:
Quote It is still an alarming situation for a famous club. Nobody embraced the concept of summer rugby more successfully than Bradford, who invented much of the razzmatazz that now accompanies the game. The Bulls won four Super League titles, along with World Club Championships and Challenge Cups, but financial reality bit with the loss of key players and a ruinous determination to beat Leeds to the signature of Iestyn Harris.'"
to which I felt forced to respond:
Quote However, it would appear that you have a very short memory since in your article dated Friday 11 February 2005 the headlines were:
'Super League in debt to Cougars' crazy originality' which is far more-acuurate than todays comments! The 'Northern' Directors, led by Chris Caisley, despised Keighley in 1995 and poured scorn on 'Cougarmania' as awell as orchestrating the successful attempt to keep Keighley out of Super League, which led to the demise of my Club.
Like any organisation, Super League is only as strong as its weakest link and the sooner that the RFL realise that this is the case, the better.
No club is too big to fail and I'm sick and tired of HM Revenue & Customs supporting undeserving cases such as football, rugby union and, unfortunately, Rugby League clubs by failing to do their duty and collect what money is owed when it is due.
Will you please explain precisely why you have 'changed your tune' about the 'invention of the razzmatazz' which was actually due to 'the two Cougar Micks' and nothing at all to do with 'Northern'?
I look forward to receiving your response and comments.'"
I await a response from Dave Hatfield.