Bradford City's future looks secure
Bradford City looked to have secured its future yesterday after the league one club had its company voluntary arrangement (CVA) approved.
Neil Brackenbury and Mike Moore, joint administrators from Kroll, described the approval of the plan by the required 75% of creditors as a ‘significant’ step towards securing the future of the club, but they warned that a number of conditions remained to be fulfilled. They also praised employees and players for ensuring the club’s survival by accepting wage deferrals.
Brackenbury said: ‘Today’s meeting was an important step towards securing the future of Bradford City Football Club and we are very pleased that the CVA proposal has gained the necessary support from creditors.’
‘We will now be working closely with the new owners to fulfil the conditions upon which the proposal depends. In particular, to obtain the Football League’s agreement that Bradford City remains a Coca-Cola League One club. We have every reason to believe they will agree to do this.’