There Is No Third Time for Bradford City

News came this morning – if you can call it news – that Julian Rhodes could be forced to put City into administration for the third time should the Bantams be relegated from the league. It comes in the Daily Star – attach to that whatever status you will – and it reads ominously.

Everybody knows that there is no third time for Bradford City. Administration is about settling debts with creditors by allowing them to have faith that they will be paid back better in the long term than they are through a liquidation of assets. Kroll – no one – could make a case that City would pay back this time better than the previous two. Without faith there is no CVA ergo there is no administration. There is only liquidation.

However Julian Rhodes has no immediate reason to seek Administration. The squad at Valley Parade is threadbare to the point that in the summer the Bantams may have only six or so senior professionals in contract and the expenses are transparent. City lost £600,000 last year. £330,000 goes to Gordon Gibb leaving £270,000. Should Dean Windass exit – and he probably will – then City have every right to demand a significant fee for a player wanted for a season in League One so perhaps half if not more of that £270,000 can be wiped away.

A projected loss of £150,000 is not a debt that forces a club into Administration and the loss of £600,000 this season has been offset by the sales of Jermaine Johnson and the loaning of Windass. I may be wrong and I may not be privy to all the information but veteran of two CVAs unless I’m reading this wrong the end of the world is not nigh.

Rhodes for his part is furious saying

It’s utter rubbish and we will be discussing these comments with the club’s lawyers. The stories are so far wide of the mark it’s untrue.

The Daily Star – jumping on Rhodes’s comments in the week and looking for punchy stories – would be better off pointing City fans to Sheffield Wednesday and Hull games for the rest of the year. Should the Tigers stay up City get a slice more cash for Windass and promotion for The Owls – they are pushing for the play-offs – would land the Bantams £150,000.

City need to be on a constant watch against financial problems but part of that watch is being able to control panic that would be sparked by the Daily Star article. It is still worth buying a season ticket; it is still worth caring about the club.