"Being a rugby league player is not a very sustainable and secure future as it is but then you see what happened at Bradford and you think 'wow, the carpet can really be pulled from beneath me here'," he said.
"We're pieces of meat at the end of the day and we're not treated with much respect."
He told BBC Radio Leeds that the Bulls may not be the last rugby league side to encounter financial problems.
In the last three years Crusaders, Wakefield and the Bulls have all spent time in administration.
"Someone has to be held accountable for what happened because it's fine saying 'it's sorted now' but there shouldn't have been that situation in the first place," he concluded.
"I have a terrible feeling that this is the tip of the iceberg in rugby league. People behind the scenes seem to think there could be more clubs in financial difficulties.
"Since the start of Super League we've had three clubs in administration. It's diabolical is what it is."
Hargreaves is not the first player to leave the Bulls for a career outside rugby, with Ben Jeffries retiring to go part-time in Australia so he can
start a career in mining.
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