A pioneering new initiative to enable Bradford City fans to boost the club’s coffers has been launched .

Bradford City Financial Services will enable fans and the public to invest in a special savings account.

The club will annually receive one per cent of the total cash in the account and earn commission from business generated by a number of local finance firms.

The initiative is the brainchild of Eric Armstrong, principal of the Financial Distribution Network, which includes Hipperholme-based Mortgage Call and life assurance business Plan4Life.

He has worked with the club’s operations director David Baldwin and joint chairman Julian Rhodes to get the scheme off the ground.

Mr Armstrong said: “This project is the very first of its kind in sport, where a professional sports club puts its name to a network of financial services companies.

“It will enable Bradford City to earn extra income as well as help those financial companies involved generate new business from soccer fans.”

Leeds Building Society, which specialises in affinity savings with a range of sports clubs, is running the Bantams Saver Account and the Junior Saver Account as a bespoke service for City supporters.

Mr Armstrong said a similar account operated for one of City’s rival clubs had attracted £28m of savings and provided around £250,000 a year for the club.

John Greenwood, Leeds Building Society’s Bradford branch manager, said: “We are delighted to offer Bradford fans an affinity account that provides a competitive return, free match tickets and the chance to win ‘money can’t buy’ prizes at the same time as supporting their heroes.”

The financial venture is the latest in a string of new initiative launched to help raise funds for Bradford City. The club has also launched an energy price comparison site and Bradford City Recruitment Services.