The super league club plans to go into administration, after it was announced they are on the fixtures list for next year. They have called on lawyers to file a Notice of Intention to appoint administrators for the club. It has seen a number of staff and players leave and is still looking for a venue for home games; currently the Broncos have only five players on their books. It’s also been reported that no one employed by the club has been paid their latest monthly salary.
The administrators are to be brought in to protect the Broncos against creditors and to allow the club some time to work with the Rugby Football League. The aim is to resolve the current issues surrounding the club – there are talks of a move to The Hive with the chairman of Barnet FC, however only if the club carries no debts.
If a club becomes insolvent, regulations state they will lose six competition points. If RFL’s review is accepted by clubs, this number could be doubled.
For more information, visit our page on notice of intention and how it can provide companies some breathing space and protection from aggressive creditor actions.