Bradford City could well cease to exist by 10am Thursdy morning. from Rueters-
Cash-strapped Bradford City could go out
of business on Thursday if the landlord of their Valley Parade
ground, ex-chairman Gordon Gibb, does not waive next season's rent
-- reported to be 300,000 pounds ($544,400).
If the club goes under, it will be the first to do so in England for
12 years.
Bradford, in administration and relegated to division two last
season, is reported to have debts of around 30 million pounds
($54.27 million). Only three years ago the club was playing in the
lucrative premier league.
"Following a lengthy period of discussions with the landlord we have
submitted a request to play rent-free at Valley Parade for the whole
of the 2004-2005 season," a spokesman for administrators Kroll told
the club's website.
"If that does not happen then there is no other choice but to close
the club down."
The news comes despite concerted fund-raising efforts from fans and
a reported "substantial" donation from David Hockney, one of
Britain's most celebrated post-war artists, who hails from Bradford.
The club said the funds had been used to pay player and staff wages
to the end of June. Talks with investors were ongoing but none were
at a stage where investment was imminent.
Loss of their top flight status after two seasons between 1999 and
2001 and the collapse of the Football League's television deal with
ITV Digital hit Bradford's finances hard.
While much was made of neighbours Leeds United's fall from grace
last season and the possibility of their going out of business, it
could be Bradford who become the first English league club to fold
since Maidstone United in 1992. It also comes just days after
diadora apologised after scenes from the Bradfrod fire
disaster were used in advertising campaign.
