Bradford City chairman Geoffrey Richmond is inviting potential investors to come forward in the wake of the club's decision not to float on the full stock market.

When Paul Jewell's side clinched a place in the Premiership, City announced that they would be investigating the possibility of a full flotation.

The Bantams hoped to raise between £10 and £15 million for team-strengthening ahead of their first campaign in the top flight since 1922. But as the Telegraph & Argus revealed two weeks ago, City analysts advised the club that the name of the city was not sexy enough for potential investors.

And earlier this week Richmond said that City had abandoned plans for a flotation while also confirming that supermarket chief Ken Morrison had declined an invitation to join the club board.

Richmond said: "Clearly the greater resources that we have at our disposal would give us a greater chance of survival.

"However I must say that no money would be spent at the expense of the tremendous team spirit which exists at this club. That was a huge factor in this club winning promotion.

"But we do also realise that the squad must be strengthened ahead of us playing in the Premiership.

"I want to make it clear that if there is anyone out there interested then my door is always open. This is not a closed shop.

"Anyone who could help us regarding increased resources would be more than welcome on board.

"We have, however, proved over the last few years that we have the ability to overcome the odds. I see the coming season as our greatest challenge, but we will overcome."

Interest in the money available for team strengthening has been heightened by City's promotion and the fact they will be lining up against some of the richest clubs in the world next season.

Paul Jewell is determined to strengthen his squad for the demands of Premiership football and Richmond has revealed that the club are working very hard to ensure as much money as possible is available.

He said: "We are very close to finalising just how much money will be available for team strengthening. As a club, we are not prepared to make that amount public for obvious reasons of alerting other clubs as to how much money we have to spend."

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