Bradford directors make donation

Bradford director Richmond is one of the three

A trio of Bradford directors have provided £400,000 to fund the club through July.

Bradford are in administration and Geoffrey Richmond, Julian Rhodes and Professor David Rhodes have put up the money to help the administration to continue.

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The move also involves the administrators putting together a proposal for the club's creditors.

"Mr Richmond, Mr Rhodes and Professor Rhodes have provided the administrators with funding for the club for July," confirmed joint administrator Mike Moore.

We are hopeful this will provide...time to finalise a proposal that secures the future of this club

Joint administrator Mike Moore

"In return we have agreed to enter an exclusive period until the end of the month to formulate a Company Voluntary Arrangement proposal to place before creditors.

"We are hopeful this will provide the administrators with adequate time to finalise a proposal that secures the future of this club."

The meeting with the creditors is set to take place towards the end of July.

The Company Voluntary Arrangement needs to be approved by a minimum of 75% of all creditors in value of their accepted claim by the administrators.

Only then can the arrangement be confirmed by the board of directors of the Football League leading to the club coming out of administration.