Bradford Bulls - RedAmberandBlack.net • Re: Rimmer wants rimming
Bulliac wrote:
I don't know how you've got this idea FA. The 2019 date was to do with the settlement money. If they didn't play almost all home games at Odsal up to that point then they had to repay part of the money they took in 2000 with the deal with the council. That was the reason it was included in the headlease. To be perfectly honest, this was discussed to death at the time but I certainly can't be bothered to go back and look - if the posts still exist on some ghostly server, that is.
Incidentally, as an aside, the 'Odsal settlement' was done between the council and Chris Caisley's board with Bradford Northern (1964) Ltd and that company is long gone so it would be interesting to know how the lease was re-negotiated (I'm assuming it was..) with the new busines(ses) after going under. It's possible they all simply took on the old terms and conditions, but, of course, maybe they didn't?
What idea? You said
Thing about the lease, of course, is that without a Bradford team to play there, the lease is worthless since it can only be used if the rugby ground is there".
I said
EXCEPT that from next year that requirement ends. But that's none of my business ..
So I just corrected your view that the lease is "worthless" since it can only be used if the rugby ground is there. I just pointed out that the rugby playing requirement is only until 2019, whereas the lease runs till 2154. So maybe not that worthless after 2019?
The deal was done in 2002. The old stadium lease ran till 2019 which is where the relevance of 2019 came from. The new lease from 2002 is for 150 years. The settlement included paying the club £4.6 m in lieu of the previous deal where they would have been receiving £337,000 index linked for 17 years. The connection is thus that if the Bulls stopped playing at Odsal they would be in breach of their lease and could be out. The 2002 Lease was with Bradford Bulls Holdings Ltd (not Bradford Northern (1964) Ltd) and unless anyone else knows different it remains the Head Lease although obviously now the head tenants are the RFL (it is normal for long leases to change hands)
Statistics: Posted by Ferocious Aardvark — Wed Nov 01, 2017 6:03 pm