Monday 14 November 2016 15:20, UK
Bradford Bulls have been placed into administration, according to chairman Marc Green.
Last month, officials at HM Revenue and Customs asked for the Championship side to be wound up at a hearing in a Bankruptcy & Companies Court in London.
At the hearing, tax officials claimed they were owed around £350,000 by the club but Bulls disputed the amount saying the debt was nearer £133,000.
Registrar Nicholas Briggs said he would review the case on November 14 after a lawyer representing the club said money would be paid.
However, no agreement could be met and the club, playing in the second tier of professional rugby league for the first time in 41 years, will now enter administration for the third time in four years.
In a statement, Green said: "I have been talking to a number of serious investors and purely the pressure from HMRC has forced the club to be put into this position to save its future.
"There is a dispute between ourselves and HMRC which we have been working hard to resolve since the winding up petition was issued and despite two adjournments from the courts to resolve this matter we have been unable to do so.
"We were concerned over the ability to secure a third adjournment and therefore this action became unavoidable to protect the club. I will be working closely with the Administrators over the coming weeks and it is my intention to regain this club from them within the shortest practicable time frame.
"Regardless of whether I remain at the helm of this great club, I will ensure all memberships already purchased for next season will remain valid, as will the offer under which they were purchased. I believe the future of Bradford Bulls is still strong."
An RFL spokesperson said: "We have been communicating closely with Bradford Bulls and we are aware of the decision to place the club into administration.
"It is undoubtedly a painful and uncertain time for supporters, players and employees. In these circumstances the RFL will always seek to support a club in difficulty for the sake of those directly affected and also on behalf of the chairmen and boards of well-managed clubs who deserve stability.
"Any decision regarding membership of the RFL and possible sporting sanctions will be made in due course and are at the discretion of the RFL board."
