Rugby League Governing Body Still Receiving Interest for Odsal Stadium Lease
(April 10, 2023 – Love Rugby League) – The Rugby Football League (RFL) is still receiving expressions of interest for the Odsal Stadium lease over two months after the deadline for best bids passed, Love Rugby League can reveal. The governing body’s substantial financial liabilities for maintaining the stadium have also been disclosed.
The RFL infamously purchased the Odsal Stadium lease from the Bradford Bulls in January 2012 for around £1.2 million during the club’s financial difficulties. Since then, the RFL has charged the Bulls a rental fee believed to be below £100,000 as the main tenant.
However, the RFL recently appointed Knight Frank’s Leeds office to invite bids to purchase the Odsal lease before January 31. While the Bradford Bulls confirmed they were one of the bidders, no offer has been accepted as of April 10, Love Rugby League has learned.
“The RFL is still receiving tentative expressions of interest from local businesses and companies seeking to acquire the Odsal lease for various purposes.”
In fact, the RFL is still receiving tentative expressions of interest from local businesses and companies seeking to acquire the Odsal lease for various purposes. Should an external party win the bid, they would need to negotiate a rental agreement with the new leaseholder.
The article can reveal that the RFL is spending a significant six-figure sum annually to maintain and upkeep the Odsal Stadium, even after collecting rental payments from the Bulls and YorStox. This means any new leaseholder would likely need to consider increasing the rent or inheriting the substantial maintenance costs.
Additionally, it is extremely unlikely the RFL will recoup the £1.2 million they paid for the lease in 2012, as the venue’s value had depreciated to £750,000 by 2018 and has likely declined further since then. This represents a significant financial loss for the rugby league governing body.
The situation is one that the current RFL CEO, Tony Sutton, has inherited from the previous administration under Nigel Wood. Both the RFL and Knight Frank have been approached for comment on the ongoing Odsal Stadium lease discussions.
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