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Bradford Bulls have revealed the club may have to make redundancies because of debts left by the previous owners.

Mark Moore took over as chairman at Odsal from Omar Khan in September.

The Bulls spent over two months in administration in 2012 before Khan's consortium bought the club.

"Poor leadership and a lack of commercial know-how, from earlier this year, has sadly turned away many traditional sponsors - and income," the club said in a statement.

"The last administrative team struggled to understand the full impact of running this club and stepped away from the business with large outstanding debts, which the Bulls are now recovering from.

"Concerts staged last year ran at a financial loss, estimated to be in region of £100,000, and the costs keep on coming.

"This is likely to mean staff redundancies, across a range of departments, as well as budget reductions.

"Areas of the business have been allowed to dangerously overspend and this is now going to have an obvious impact on the club.

"Our incomings simply do not match our current outgoings, so over the next few days we have to make tough decisions on every business unit in the club."

The Bulls, who finished 10th last season, start the Super League campaign against West Yorkshire rivals Castleford on Sunday, 16 February.

As it stands, the two teams that finish bottom of the regular season table will be relegated from Super League as the competition returns to 12 teams for the 2015 season.