so whats actually happened. a group of shareholders have bought the office block and set up a holding company and also bought the club? not really clear in t&a report. was mentioned on radi that the rent for office block cost more than the finance to buy it but wasnt clear whether its this group of shareholders paying back the finance or whether this debt is now clubs responsibility.

AFAIK, they've (BC Bantams) bought the office blocks with this new holding company, significantly reducing the clubs overheads and bringing the rent down they owe Gibb and his company.

dont think it affects rent they owe gibb. reduces the amount they have to spend renting office block thus making more money available for stadium rent for same outlay

I read it to mean the holding company had brought the office block thus allowing a reduction or occasional non payment of that rent meaning they could afford to pay the current rent on the rest of the ground.

The approximate £1m rent figure given a few months ago was made up of rent owed to both the Gibb Pension Fund for the stadium and a company called Prupim who owned the offices. Therefore the fact that the chairmen have purchased these offices means that the rent has now dropped to simply what is owed to the Gibb Pension Fund, which is still in the process of renegotiation. I understand that BC Bantams Ltd is a seperate holding company to the football club and it is the intention of the chairmen to lease out these offices in order to generate an element of income.

Therefore the reason this means City can stay at VP is because the rent has apparently been reduced by somewhere between a third and 50%. With the negotiations with the Gibb Pension Fund moving at a somewhat slower pace this deal was pretty crucial. If a staggered rent payment can be agreed with the Gibb Pension Fund, the club will be paying a much more reasonable level of rent to be based at Valley Parade.

Thats my understanding of it anyway, hope it helps.