Khan to be unveiled as new Bulls owner
Restaurant owner Omar Khan will be officially unveiled as the new owner of Bradford Bulls on Saturday, but the takeover will not be ratified by the Rugby Football League until next week.
Khan has struck a deal with joint administrator Brendan Guilfoyle to transfer the business and assets of Bradford Bulls Holdings Limited to OK Bulls Limited.
It is thought Guilfoyle, who had been running the club since June 26, was desperate to conclude a sale before September 1 when he would have become liable for the players' next wage bill.
Khan, who broke the news on Friday night on Twitter, still needs the official backing of the RFL but Blake Solly, the licensing director for the governing body, admitted that completion of the deal is expected to be a formality.
"We should be able to sign it off early next week," Solly told Press Association Sport. "A few of the third parties we needed to speak to as part of our due diligence have been on leave.
"Hopefully, the documents can be put together on Monday and we can transfer the RFL membership and then start focusing on the Super League licence."
In going into administration, Bradford effectively forfeited their Super League status and, although they have the support of several leading rivals, there is no guarantee they will be spared from relegation to the Championship.
Solly confirmed that Bradford would enter a mini round of licensing, most likely featuring leading Championship clubs Featherstone, Leigh and Halifax, to determine whether they would be allowed to see out the remaining two years on their current license.
Solly said it was hoped a decision would be made in "two weeks tops, earlier if possible".
It is thought the Bulls could agree to forego some of their funds due from central distribution over the next two years in an effort to help secure their place.