How Rhodes helped save Bantams from another administration

But the summer splurge of 2018 threatened to deliver the same devastating impact as Geoffrey Richmond’s “six weeks of madness” after Premier League survival.

The £2.5 million loss in League One hardly sounds the same as the £36 million millstone that dragged City into administration within 12 months of dropping out of the top flight.

Yet the financial turmoil that Julian Rhodes walked back into in November 2018 looked eerily similar for the interim chief executive.

Some might have taken one look at the mess and carried on walking but Rhodes, hardened by the survival fights from 2002 and 2004, rolled up his sleeves and got to work.

Without that steady hand, according to City director of communications and commercial Ryan Sparks, the Bantams were facing another potential meltdown.

“Some would argue that summer had been madder than the one in 2000 in the context of things,” said Sparks of the financial chaos that Edin Rahic left behind.

Julian Rhodes watching City at Barnsley shortly after he returned to the club

“It was the same style of disaster. It needed an action plan which Julian put into place in the space of a week to restructure the business, salvage what we had and get out of the financial mess.”

Stefan Rupp, his eyes opened by Rahic’s reckless spending, was forced to inject a significant six-figure sum to save the club while Rhodes planned the rebuild.

He called in Sparks, club secretary Mark Harrison and head of operations Paula Watson and spelled out what had to happen.

“Without Julian’s leadership and direction, we were certainly under immense threat of administration,” admitted Sparks.

“He came to the club, opened the box up, left it wide open and got to work dealing with it.

“Julian said to me that he’d felt we’d gone back 10 years in terms of club finances and that hurt him.

“But from that point, he was quite determined and almost excited by the prospect of putting it right.”

Julian said that he’d felt we’d gone back 10 years in terms of club finances and that hurt him

Rhodes, at that stage, had no intention of staying beyond the end of the season once his Red Adair rescue act was completed.

But another change of manager followed by relegation made it clear that it was not the right moment to walk away. Even with Rupp's mid-season bail-out, the accounts reported a £1.9 million deficit - the legacy of City's former chairman's recruitment excesses.

Approaching two years since his return, Rhodes is still at Valley Parade – but insists it will not be forever.

He might have left before now if the replacement originally identified had not taken up a job elsewhere. That was believed to be David Baldwin, whose potential return to his hometown club was kyboshed when he was offered the chief executive role at the EFL.

Stefan Rupp, right, had to put in a "significant six-figure sum" after Edin Rahic's excesses left City heavily in debt

Rhodes is now talking to another possible candidate but will only move on when he feels the timing is right for the club.

That is certainly not the case in the COVID environment that is straining the coffers once more.

Sparks added: “If you look at the pandemic and the way things are panning out, it would be the wrong time for a chief executive to just down tools and say, ‘I’ve done my bit’.

“He also will not bring someone to the club who will take it backwards where it has been in recent years.

“It’s very important that whoever takes up the mantle next is someone we can trust, believe in and buy into.

“It will be an exciting and interesting change but I don’t see Julian Rhodes being involved in our club in the long term at all. That’s not a secret.

“It says more about the guy that he has got on with it.

“Julian knows now is not the right time and that’s not been a debate.

“He has ultimately done a job here that was very important and shouldn’t go unrecognised.

“He’s brought an energy to people such as myself to get on with our jobs and do the best we can and overall just improved the picture which needed to be done ASAP.”

City are today due the final £1 million tranche of the Oli McBurnie sell-on money as well as a further bonus payment from Sheffield United for staying in the Premier League.

Julian knows now is not the right time and that’s not been a debate

But that money has already been accounted for in dealing with the debts still lingering from last year’s expensive relegation and the impact of COVID in shutting down income streams.

Sparks said: “The transfer of Oliver McBurnie from Swansea to Sheffield United undoubtedly rescued this club.

“We have got some debts through COVID but they aren’t ones that we cannot manage. We know exactly where the money’s coming from.

“Take COVID out, we’d like to have thought we could have used that money on better things.”