Geoffrey Richmond, pictured, said today he is ready to walk away from Bradford City once the club's future has been secured.

The chairman who led the rescue package - accepted by creditors yesterday - admitted he may quit his post "for the good of the club".

Mr Richmond, who has been the City boss since 1994, vowed to swap the directors box for the terraces if his presence continued to divide the club's supporters.

He will sit down with his fellow directors next week following a crucial Football League meeting which will decide whether to allow City to compete in next season's first division.

"The important issue for me is that the club survives and that will hopefully have been achieved following Tuesday's meeting," Mr Richmond said today.

"The survival of the club is what I have been personally working towards because I had a moral responsibility to do all that I could to ensure that the club survived.

"In the event that that comes to pass then it is my intention to sit down and speak with the Rhodes family and discuss where we go from here."

And in an exclusive interview with the Telegraph & Argus, fellow director David Rhodes revealed today how close he came to quitting as he put his own family's finances on the line to help save City.

Now, under the terms of the Company Voluntary Arrangement - the deal accepted by the club's creditors - the board will be closely scrutinised by administrators Kroll Buchler Philips even after it exits administration.

Representatives from the firm will meet the directors every three months to check the club is not exceeding its spending limits.

The conditions were drawn into the agreement late on Wednesday night at the request of insurance firm Gerling UK, who were owed more than £7 million.

Before yesterday's decisive creditors' meeting which secured the club's financial future, Mr Richmond had said he had the solid support of just ten per cent of fans.

And many supporters have been bitterly divided over his return to the club following the crisis, even though the deal secured the backing of around 99 per cent of creditors.

"It may well be that the fans are divided and there is a significant element of those supporters for who I am the issue and, in that case, I would not want to stick around to the detriment of the club," Mr Richmond said.

But he vowed: "I am not a quitter - if I had been then I would have quit three months ago.

"However, if I feel that the club would have a clearer way forward with the fans united rather than divided, and that I might be a hindrance if I stayed, then I would do the right thing.

"I wouldn't want to walk away completely but under those circumstances I would just attend the matches as a supporter."

If Mr Richmond did quit, it is unclear who may take his place on the board.

Professor Rhodes, who gave up the deeds of his home to save the club, has indicated he does not wish to take a more high profile role on the new board.

Mr Richmond said he was only looking to Tuesday's crunch meeting.

"I am trying to rationalise my thoughts at the moment," he said. "This has been the most difficult period of my entire life."

And Mr Richmond paid tribute to the season ticket holders, creditors and administrators who backed yesterday's rescue package.

Unsecured creditors will now receive around 17.5p for every pound they are owed by City over the next three years.

"The future of the club was in the balance right until the end," Mr Richmond said. "The finance negotiations with Gerling were not complete until 10pm on Wednesday night and the documentation didn't come through until 10am yesterday. It was never a done deal."

He added that the pressure of the administration period had been difficult to deal with.

"I have worked day and night under great pressure to get to the stage we have reached now," he said. "I have thought about nothing else."