Benito Carbone is poised to clinch a permanent return to Italy.
Italian sources claim Carbone has already signed a pre-contract agreement with Serie A new boys Como, who have been promoted in successive seasons from regional division C1. A deal could be finalised within a couple of weeks.
Another Serie A side, Ascoli, are also thought to be chasing the Bantams striker.
City begin pre-season training at Apperley Bridge on Monday when the five players officially still on the books will be joined by some of those axed by the administrators.
The Professional Footballers' Association have said it is up to the 16 players whose contracts were torn up to choose whether they want to come in.
But Carbone is likely to stay in Italy as he looks to sort out a move back to Serie A after six years in England.
Having spent the final three months of last season back in the Premiership with Middlesbrough, Carbone does not want to play in Division One again.
A move back to northern Italy would obviously appeal and Como coach Loris Dominissini sees him as the ideal partner for former Belgium international striker Luis Oliveira.
For those players who do return to training, it is understood that the PFA have agreed to pay their wages until the club comes out of administration.
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