Bradford to stay at Valley Parade

24 May 2011 07:17
Bradford City are staying at Valley Parade after striking a deal to buy back the club offices and shop.A move to Odsal, home of the Bradford Bulls, had been mooted but the deal frees up money for the ground rent. [LNB]The club now hope to lease the offices out, enabling them to meet the rent on the stadium itself. [LNB]Joint-chairman Julian Rhodes said: "I'm not saying it solves everything but it means we will be able to stay at Valley Parade for next season." [LNB]He continued: "This move does help to ease all of our more pressing problems and means that we are saving the club a lot of money in the process." [LNB]Rhodes, his father and fellow shareholder Professor David Rhodes, and joint-chairman Mark Lawn have set up a parent company, BC Bantams limited, to buy the office block, which is owned by Prudential Property Investment Managers (PRUPIM). [LNB]The club were paying around £700,000 a year in rent to PRUPIM and the pension fund of former chairman Gordon Gibb, the owners of Valley Parade. [LNB]Bradford City said last month that that figure was unsustainable for a League Two side, prompting plans of a move to Odsal, home of Super League side Bulls. [LNB]The club are still hoping to renegotiate the rent on the 25,000-capacity stadium, their home since 1903. [LNB]Following their relegation from the Premier League in 2001, the ground was sold to the pension fund of Gibb for around £2.5m and subsequently rented back to the club.

Source: BBC_Sport