Peter Hood admits 2009 will see the Bulls enter “uncharted waters.”

Bradford’s chairman addresses shareholders at the club’s annual meeting on Monday when he will deliver his report for the year ending 2007.

The Bulls made a profit of £257,000 but today he warned: “Don’t forget, 2007 is a long time ago and this year has definitely been more challenging and difficult.

“As we get to the end of 2008 there is more belt tightening and, looking ahead to next year, it certainly is uncharted waters for us in view of the overall financial climate.”

However, Hood insisted he doesn’t believe the proposed multi-million pound Odsal Sporting Village development will be affected by the current wider monetary crisis.

“I’ve no reason to suppose anything happening on an international or national scale will derail the Sporting Village,” he said.

“That work will continue regardless of the overall financial climate.”

And he believes the Bulls may actually benefit from NOT having a sugar daddy pumping cash into the business.

“There isn’t anyone bailing us out here,” Hood said.

“Someone is putting their hand in their pocket to make up shortfalls at the majority of Super League clubs. We don’t have that luxury, we have to operate as a viable business as there is no one to go to.

“Why that should be in Bradford as opposed to other towns and cities I don’t know but it’s been the case for many years.

“Isn’t it better though to run a business like that rather than holding a hand out all the time?

“What if one of those backers suddenly finds their funds dry up? It turns into an immediate crisis and could spell disaster. We are not in that predicament.”