Bradford City Football Club was today in a desperate race against time to prevent it going out of business within a week.

There are only six days left before a £300,000 lump sum, injected by chief executive Julian Rhodes to keep the club alive during administration, dries up.

But the Telegraph & Argus has learned that talks between him and the club's major stakeholders have still to be resolved.

It is further understood that unless significant progress has been achieved by 5pm next Wednesday, the Rhodes family would be reluctant to plough in further funds to keep the club in business.

It is believed that Mr Rhodes cannot justify putting in more cash unless there is some indication that the club can be saved.

And the T&A understands that none of the other parties said to be interested in taking over the club are expected to pursue their interest.

Therefore, unless the Rhodes deal with the club's stakeholders is progressed, the administrators might have no other option than to shut the club at the end of the month.

Today, Bradford South MP and Government Minister Gerry Sutcliffe warned that if Bradford allowed its only professional football club to collapse it would jeopardise all the positive regeneration work now underway in the district. Mr Sutcliffe, who has been involved in discussions with the club and Bradford Council, said it was now time to pull together and forget the origins of the crisis resulting from former chairman Geoffrey Richmond's self-confessed "six weeks of madness" when the club spent desperately to try to stay in the Premiership.

"Some people doubt the seriousness of the club's plight," he said.

But it is quite clear that this is the most serious crisis that the club has faced for some time.

"We need all those who care about professional football in the city to rally round. Those who are involved in potential deals must try to bring them to a conclusion in a reasonable time frame.

"A city of our size cannot afford to lose its football club. It buys so much publicity for the city that it would be a tragedy to lose it and it would dent the confidence that is emerging in the district.

"The players have done their part in terms of deferring their wages and the directors have done their best. Now it is time for us all to rally round."

A glimmer of hope did emerge last night, when it is understood that finance firm Lombard - the first major stakeholder with whom agreement needs to be reached - has produced a set of proposals for Mr Rhodes to consider.

If a deal is struck with the firm, which is still owed £2.5 million for the construction of the Sunwin Stand development, talks will then begin with other major stakeholders including former chairman Gordon Gibb - who owns the Bradford & Bingley Stadium - and the Inland Revenue.

Although the basis of a deal had been thrashed out between Mr Gibb and Mr Rhodes before City went into administration, the matter remains in the hands of lawyers.

And another complicating factor could be former City striker Ashley Ward who is still owed a substantial sum by the club following the severance of his contract.