Bradford's financial woes worsen
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Your support makes all the difference.Bradford have announced that creditors have applied to put the club into administration for a second time. The club's finances have been the cause of a feud between the Rhodes family and the former chairman Gordon Gibb, both major shareholders at Valley Parade.
Bradford spent a period in administration in 2002, before agreeing a Creditors' Voluntary Agreement, which allowed them to retain their Football League status.
In a statement, director David Rhodes, whose family helped rescue the club along with Gibb following the departure of Geoffrey Richmond, said: "Since we [the Rhodes family] are not willing to continue to gift any further funds to the club and because the club have now defaulted on its CVA payments, the supervisors of the CVA have had no other option but to seek an administration order."
The feud took a dramatic turn minutes before Saturday's game against Crewe when Gibb, who resigned as chairman last month, addressed the crowd from the side of the pitch. He told supporters the reason he resigned was because he "felt let down by the family he worked with" and no longer wanted to work with them.
One of Bradford's directors, Julian Rhodes, warned last week that the club could go back into administration unless negotiations were satisfactorily concluded with their major creditors. The Bantams are eight points adrift of safety in the First Division despite their 2-1 victory over Crewe.
Meanwhile, Ted Forster has renewed his interest in taking over Third Division Darlington Town. Forster is prepared to present former chairman George Reynolds with a bankers' draft for £4m - double Reynolds' previous demand - in front of fans before their next home game on the condition that Reynolds severs all ties with the club.
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