City Takeover A Step Closer
Gianni Paladini is a step closer to take charge of Bradford City following a successful day of talks at Valley Parade.
The former QPR chairman was at the Coral Windows Stadium Valley yesterday with his legal team to meet joint chairmen Mark Lawn and Julian Rhodes.
Paladini signed an exclusivity agreement with the Bantams’ board several weeks ago after first registering his possible interest in the League One club at the start of the year.
That exclusive period is understood to expire on Friday this week, something that has brought added urgency to Paladini’s attempts to complete his 100% buyout.
It is believed the 1st May deadline to agree the takeover with an additional fortnight factored in to conclude matters can be extended if necessary.
However, with club affairs such as contract negotiations and season tickets sales having to be put on hold while talks have been on-going, there is a desire on both sides to bring matters to a close.
Much of the necessary due diligence into City’s affairs is now understood to have been concluded, however there still remains a couple of outstanding issues which necessitated yesterday’s meeting between the respective legal teams.
None of the issues are expected to be too serious, as Italian Paladini was spotted at Bradford’s Apperley Bridge training ground yesterday afternoon, meeting with manager Phil Parkinson.
Rhodes and Lawn, who joined forces in 2007 when the latter joined the board, have continually stressed they are open to potential investment.
The Rhodes family spent millions keeping the Bantams alive after two stints in administration, in 2002 and 2004. Whilst Mark Lawn lent the club a seven-figure sum soon after coming on board, which was repaid after Bradford reaching the 2013 Capital One Cup final.
Both men admit they do not have the resources to bankroll a sustained push for success. However the pair have continually stressed that any interested party must have the club’s best interests at heart.
Paladini is the first prospective buyer to have serious talks since Guiseley director Steve Parkin’s unsuccessful bid in 2011 to buy City and the Bradford Bulls.