City are moving forward with another surplus

The Bantams, who have had two spells in administration since being relegated from the Premier League in 2001, made a surplus of around £200,000 in the financial year to June, 2012.

Rhodes expects City to make a similar amount during the current season thanks to a run to the Capital One Cup semi-finals that is set to earn the club in excess of £1m.

Further windfalls from deals that in recent years have seen some of Bradford’s youth players sold to Premier League outfits are also likely to swell the coffers with £70,000-80,000 being banked just this week after teenage prodigy George Green signed his first professional contract with Everton.

Rhodes, who joined the Valley Parade board in 1997, last night told the Yorkshire Post: “Our accounts aren’t out yet, but I’d imagine we will have made in the region of £200,000 profit in the 2011-12 financial year.

“This time around, we are probably on course to make a similar amount – though of course with half the financial year still to come, things could change.

“If we get through to the League Cup final, for instance, then that would change things. So would an appearance in the Johnstone’s Paint Trophy final.

“But, as we stand here right now, I would say we can expect a surplus of around £200,000. That means back-to-back profits, something that hasn’t happened during my time on the board so that is great news.”

The news that Bradford, who yesterday held further talks with manager Phil Parkinson over a new contract, are set to post a profit for the second consecutive year suggests a perilous period in the club’s history is at an end.

In 2002, City were placed in administration for the first time amid debts of £36m.

A second stint followed two years later, during which Valley Parade was sold to ease crippling financial problems.

The club’s problems continued and relegation to the basement division followed in 2007. Since then, City have posted several deficits with £765,000 lost in 2008-09 and another £400,000 two years later when they only just avoided relegation to the Conference.

Even when a profit of £501,000 was made in 2009-10, it was largely achieved on the back of payments relating to Fabian Delph’s move to Leeds United as a 12-year-old.

But for the midfielder’s subsequent £8m move to Aston Villa, City would have lost £299,000 while even last year’s surplus was down, in the main, to a fortuitous draw that brought a Carling Cup first-round trip to Leeds United and the sale of youngster Green to Everton for a fee that sources on Merseyside suggest was in the region of £200,000.

Further payments for Green will be due should he play for the first team, while there are also clauses covering a sell-on fee and any potential international appearances.

A similar agreement is in place for Andre Wisdom, who City sold to Liverpool in 2008 at the age of 14 and has this season made 13 first-team appearances.

Rhodes said: “We are in good shape and, in terms of how things are run off the field, where I always hoped we could get to. Obviously, I didn’t imagine we’d be in the bottom division, but we are trying to do something about that.

“We took a decision to push the boat out in the summer. It was a calculated gamble, as we thought the better the squad Phil had then the better chance we would have of recouping the £600,000 loss that we were originally budgeting for this season.”

City’s decision to back their manager has been rewarded with a lucrative run to the League Cup semi-finals.

Last month’s victory over 
Arsenal earned Bradford £300,000, while the club expect to rake in a further £750,000 from the two ties against Aston Villa with around £320,000 of that coming via live television fees and the rest in gate receipts.

Around 19,000 tickets for Tuesday’s home leg have been sold, but the rest are expected to go once they go on general sale this weekend.

Rhodes said: “January is a big month with the three cup ties, the need to maintain our promotion push and also strengthen in the transfer window.

“We are hoping to get someone in on a permanent basis before Saturday, but we will have to see what happens.

“I would imagine us making at least three signings and they will all have been made possible by the money we have earned from the cups. That is why it is not always correct to say the league is the priority as our promotion bid will be helped by the cups because it is going to allow the manager to strengthen.”

This desire to strengthen extends to wanting to tie down Parkinson, whose current deal will expire at the end of this season.

Further discussions took place yesterday and Rhodes added: “There is a desire in all parties to get things sorted out. I don’t just mean Phil’s contract, but all the backroom team. People like Steve Parkin have played a full part.

“Obviously, we don’t want things to drag on but, equally, we don’t want them to deflect from everything else. Phil very much thinks along those lines.

“He wants to focus on the team and that is understandable. Phil has worked very hard to get us in such a promising position and we are delighted with what he is doing.”

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