German consortium snaps up Bradford City
TWO German investors have acquired Bradford City.
The League One side has been bought by Edin Rahic and Stefan Rupp.
Co-owners and joint chairmen Julian Rhodes and Mark Lawn will step down once the deal is complete.
Further details will be released over the course of the week.
In a short statement on its website and Twitter feed, the club said: “Bradford City can today (Sunday 22 May 2016) confirm that the Club has been sold to two German investors.”
The club, which was founded in 1903, has suffered financial issues since the 1980’s. It was plagued by administrations in the early 2000’s.
In June 2007, Mr Lawn and Mr Rhodes loaned the club the money to pay off debts to the banks, taking on the debt themselves and buying the club out of administration.
