New investor helps Bantams
08 Jun 2007 - 12:43:51
Bradford City have successfully wiped out the club's remaining debts after chairman Julian Rhodes agreed a power-sharing deal with new investor Mark Lawn.
Local businessman Lawn will become the club's joint-chairman after deciding to invest in the cash-strapped Bantams.
The 46-year-old set up the now nationwide Driver Hire business in the 1980s and has been a lifelong City fan.
"This last five years has been all about reaching this solvent state and we are finally there. We've got rid of all the debts apart from a small overdraft facility," Rhodes told the club's official website.
"It doesn't mean there's going to be millions of pounds chucked at the team, but it does give us a bit more financial stability and allows the resources we do generate within the club to go towards building the team.
"It's been a tough few years and Mark's involvement will help tremendously because we now have two people supporting the club financially.
"Mark is an avid Bradford City fan who, by his own admission, isn't in this to make money. He's got involved for all the right motives."