Bradford Bulls go into administration

Post taken in full from our friends at BBC Sport

Bradford Bulls have entered administration, with the administrators claiming they have just 10 days to save the club from liquidation.

The Bulls announced in March that they needed £1m to stay in business.
Joint-administrator Brendan Guilfoyle said: "We have just 10 working days to save the club from liquidation because there are no funds to carry on longer.

"If anyone is interested in buying the Bulls then we need to hear from them right now."

He added: "This famous club is now on the brink of extinction.
"The directors made every effort to try to save the club within the 14-day timescale issued by the courts, but the moratorium ended on Monday without any potential buyer coming forward."

On 14 June it was revealed that the club could be forced to go into administration after being served with a winding-up petition by Her Majesty's Revenue and Customs over unpaid tax.

Bradford shocked the rugby league world in March when they announced that they needed to raise £1m to stay afloat after an impending tax bill and a changed banking lending arrangement left them short of money.

Having asked supporters to pledge £100 and carrying out a number of fundraising activities they were able to raise their initial target of £500,000.
Attempts to pull in further investments were unsuccessful and chairman Peter Hood stepped down last month after a series of disagreements with majority shareholder Chris Caisley.

Director Stephen Coulby admitted the club were at serious risk of going into administration at the start of June.

The Bulls become the third Super League side in three seasons to enter administration after Yorkshire rivals Wakefield faced similar difficulties last year. and Welsh outfit Crusaders in 2010.

Crusaders were then liquidated in 2011, with Widnes Vikings taking their place in Super League.

A points deduction is likely to scupper their play-off bid, as they currently sit in ninth position - outside the play-off places on points difference only.
Current Super League licences are not up for renewal again until 2014 so the Bulls' place in the elite of the sport should be safe, assuming they can sort out their financial problems.