As previously mentioned (back in March and July 2012), the Bradford Bulls rugby club had been facing many financial issues and was on the brink of liquidation - the club was eventually taken over by millionaire businessman Mark Moore. However, bad news for Bulls fans as the latest reports have revealed the club is close to administration again!
Bradford Bulls has allegedly asked players to take a 10% pay cut to avoid falling into administration but they have refused. They are already running up huge debts and need to save over £400,000 to keep the club going.
League 13, the Super League Players' Association, is looking into the issue and is awaiting further information to try and help. They hope history won't be repeating itself for the Bradford Bulls.
If the club does go into administration, there is still a chance of using a CVA as an exit strategy. However, time will only tell whether the club can find sufficient funding to keep going.