City are staying at Valley Parade next season after the owners pulled off a deal to buy the office block.

Joint chairmen Julian Rhodes, Mark Lawn and fellow shareholder Professor David Rhodes have set up their own parent company, BC Bantams Limited, to purchase the building and take over control of the club.

The deal, which was completed late on Friday, eases the overheads burden on City which had threatened their existence at their 108-year home.

It will come as a huge relief to fans, who feared they could be forced to watch football at Odsal from August.

City claim they would not have been in a position to pay the May wages at the end of the week if the deal had not gone through.

Julian Rhodes, who opened talks with previous owners Prupim in January, confirmed: “We’re saving the club a hell of a lot of money. It also gives us complete flexibility because it means the club can pay rent when it can afford to do so.

“It alleviates all our more pressing problems. I’m not saying it solves everything but it means we will be here for next season.”

  • Read the full story in Tuesday's T&A