This is a story from the BCST website, very worrying more clubs heavilty in debt:
The Joint Administrators of Bradford City AFC (1983) Ltd have today (Friday) announced that the Club will remain open for business in the short term, however have confirmed that this period could be as little as seven days.

Despite working round the clock, the Administrators have been unable to reach a satisfactory outcome with various interested parties, including shareholders, the football authorities, players, the PFA and non-playing staff over the course of the last seven days, and therefore it has not been possible to secure short term funding.

Due to the support of all the staff, both playing and non-playing, who have agreed to forego 100% of their salaries for the next week, the Joint Administrators are able to continue to run, and therefore sustain the infrastructure of the Club until 21 May 2004. This support from the employees of the Club has enabled the business to continue to trade.

The Joint Administrators have confirmed that the Club will require a significant injection of funds in order for it to continue to run during the close season. The Club will actively be seeking the support of businesses and individuals within both the football and local communities in order to keep the Club open. These initiatives were commenced this week through the awareness programme undertaken by staff at the Club and with the assistance of the Supporters Trust.

Anybody who wishes to make a donation should contact the Club immediately.

The Joint Administrators are also keen to be contacted as a matter of urgency by any party who may wish to purchase or invest in the Club.