Bradford Bulls Owner Supplies Cash Injection for Beleaguered Team
August 2, 2013
Omar Khan, owner of Bradford Bulls, has released some of the pressure on the Super League team by releasing money from his property portfolio to keep the English club funded
Earlier this week it was revealed that the Bulls players had not been paid for July but Khan denied the club were close to entering administration for the second time in a year.
He did admit the club had a “temporary funding issue” but has now taken action to address the problem and staff are expected to be paid on 8 August.
A statement on the Bull website read: “Owner Omar Khan has released a substantial amount of money from his property portfolio to enable the club to move forward over the next 18 months.”
Khan added: “I’m releasing equity in my properties and putting the money into the club. I am doing this for the club and the city of Bradford.
“It is a place I love, it is my heritage, it is the city I’ve been brought up in. This is our city and our club.”
Bulls general manager Ryan Whitcut said: “The funding issue is to cover us for the rest of this year and next, so there will be no more issues.”
Bradford spent two months in administration last year before their takeover by Khan and local MP Gerry Sutcliffe.
But the RFL are confident that the Bulls are not heading for financial meltdown again.
Their director of licensing and standards Blake Solly said: “This financial injection will give the Bulls funding that is much needed and will provide them with reserves of cash that gives a platform to build on.
“We are comfortable with their position and that this money will drop into place to ensure players and staff are paid on or before 8 August.”