Bradford could face a points deduction after its parent company was placed in to administration.
OK Bulls Ltd was this morning placed into administration following a discrepancy over the planned transfer of shares to the club’s current directors, an agreement which was reached, in principal, earlier this month.
The ownership wrangle has been ongoing for much of the close season, and despite an agreement being reached during a meeting on January 9, the club says an unforeseen development caused efforts to resolve the issue came to a standstill late last week.
David Wilson, of Leeds-based DFW Associates, was appointed administrator of the club’s former holding company after it transpired that the company’s financial position had become untenable.
On behalf of DFW Associates, Mr Wilson said: “Upon the sanction of the Rugby Football League, we will have concluded the sale of the club to Bradford Bulls 2014 Ltd.
“It had not proved possible to resolve the ownership of the company with the previous owner and, as a result, the company’s financial position had become untenable.”
The new company is to operate under the directorship of Andrew Calvert, Mark Moore, Ian Watt and Robbie Hunter-Paul.
“The club now intends to approach the RFL to discuss its future and seek to avoid a points deduction, as the board of directors have stated their intentions to continue to work with creditors.”