Bradford Bulls chairman Chris Caisley says that throwing money at a project is not necessarily the way to success in either code of rugby.

Caisley, who is also chairman of the new board at Wakefield Rugby Union club, who the Bulls have taken over, said: "In rugby league and rugby union it has not been proved to my satisfaction that throwing money at something is the way to success, and it certainly doesn't guarantee success.

"If you look at that situation in rugby league, you would have expected Leeds and Wigan to have won every competition in the summer era.

"And if you look at rugby union, you would have expected Leicester to not be as successful as they have been with the money that has been thrown around by other clubs in the top division over the past few years.

"What does that tell you about running a top sports club? Throwing money at it does not guarantee success, but it does help with investment. You have to do something behind the scenes to get it right before you start throwing cart-loads of money at a project."