Re: HEARD A LITTLE RUMOUR......... : Wed Jun 20, 2012 9:25 am
ok, just to clarify.The office/shop block at Valley Parade was sold to Prupim (part of prudential IIRC) when City entered administration c2003. they paid an annual rent that was a significant figure running to hundreds of thousands per annum.
in Summer 2011, Bantams holdings ( a new company with Lawn, Rhodes and Rhodes as directors, seperate from the football club) bought it from prupim and let the club use it at a massively reduced rent, thouhgt to be almost nil.
A few weeks ago the building was sold to the one in a million charity, and a profit was made which the directors are pumping into the club as a means of assembling a more competitive playing squad. The shop closed last weekend, and the building will reopen as a free school in September.
Gordon Gibb, through the Flamingo land pension fund, owns Valley Parade and charges a massive rent for BCFC to play there, and run the stadium. He will not negotiate a sale of VP as the rental income is currently a better investment than a typical pension fund, and he will not communicate / negitiate with the club whilst Julian Rhodes, or his father is involved.