Hood hits out at Super League finances

As Bradford fans wait to discover if they will soon have a club to support, chairman Peter Hood has delivered a damning assessment of the financial state of Super League.

Hood has echoed recent comments by Hull KR chairman Neil Hudgell and St Helens chairman Eamonn McManus who both insisted changes must be made in the administration of Super League if it is to have a sustainable future.

The Bulls director claims the annual average losses across Super League rose from £50,000 to £500,000 in six years from 2004-10, and said in his club's matchday programme for the Good Friday clash with Leeds: "Losses on this scale are being racked up year upon year and it is clubs' wealthy owners who are footing the bill."

He added: "Unless something changes, it won't be long before at least one Super League club is technically insolvent for more than £10million."

Bradford will provide a final figure in their attempts to raise £500,000 to help them pay a tax bill and foot the players' wages for this month on Saturday.

The signs are that enough money has been pledged to enable the club to stave off the immediate threat of administration but Hood says they will need another £500,000 before the end of the month to ensure their survival.

The Bulls are one of the Super League clubs without a wealthy backer and so live a hand-to-mouth existence but Hood reckons they are one of the more profitable clubs in Super League and expect to report a substantial profit before tax for the last financial year.

"Our problem is that we have no liquidity, a situation exacerbated by our bank's recent withdrawal of the club's overdraft facility," he said.

Bradford are thought to have received around £400,000 in pledges up to Friday's 5pm deadline and the fund-raising received a further boost from a bumper crowd of 20,821 for the Bulls' 12-4 win over Leeds.