The creditors owed a total of nearly £36 million by Bradford City Football Club are expected to be offered a 'take it or leave it' deal next week which will decide the club's fate.Chief ex-ecutive Julian Rhodes - whose family is owed £12 million of the total - is hoping to be able to put together a Company Voluntary Arrangement (CVA) within days.The CVA, a docu-ment which explains how much each creditor would receive under the takeover bid, needs to initially win the support of creditors owed 75 per cent of the debt.Mr Rhodes was ex-pected to push ahead with a CVA later today, provided con-firmation arrives from the Football League that a payment of £242,000 due to the club can be used to help fund the ad-ministration period to the end of the season.That money, along with the cash raised by the sale of players including Simon Francis, Andy Gray and Paul Evans, should enable Mr Rhodes to put in the £450,000 required.As revealed in later editions of yesterday's Tele-graph & Argus, City survived last night's crucial deadline af-ter the Professional Football-ers' Association agreed that it would not prevent the Football League cash being used to help the club.But the players were not paid yesterday because the Football League had still not given absolute confirmation that the money would be forth-coming. It was hoped that would be received today, allow-ing the players to be paid.However, talks with key stakeholders including finance firm Lombard, former chair-man and stadium owner Gordon Gibb through the Fla-mingo Land pension fund, and the Inland Revenue remain un-resolved.The T&A has learned that a deal which looked to have been agreed between Mr Gibb's family pension fund and the Rhodes family has faltered over a request from the pension fund for additional security.Mr Gibb, who today ruled out mak-ing any form of rival takeover bid at this stage, said that the security was being requested by an independent trustee on the pension fund board. He admitted the situation was "concerning" but said that talks were expected to con-tinue."We have agreed that one family has to take the club for-ward," he said. "Julian and his father are still working on various different scenarios and we shall have to see where that takes us. I have never ruled out getting involved again, but I am definitely not in a position to step forward now or in the next week."Mr Rhodes said his only option was to draw up the CVA, which will include offers to all three major stakeholders, and await to see if they give their approval. The decision would be made at a meeting of credi-tors which will take place 17 days after the CVA document is sent out."The most likely out-come is that I will be in a posi-tion to agree to fund the ad-ministration until the end of the season," said Mr Rhodes last night."But I cannot say that I am especially optimistic that beyond that things will be OK."Mr Rhodes is known to have grown increasingly frus-trated at the slow progress of the talks and the lack of sup-port from anyone else willing to invest in the club."I am ei-ther doing this at the right price, or I will have to walk away and the club will go un-der," he said."Why should I constantly have to run around banging my head against a brick wall?"The only way I can conclude this is to get a CVA out as quickly as possible. It is not going to be a pretty CVA but then it is out of my hands."