Bradford (Park Avenue) say ownership of the club has now been transferred to a Community Interest Company (CIC).
The announcement comes following approval of the transfer by the FA, and the National League North club explain that the previous governance as a community benefit society was too restrictive for future investment. The intention is for this move to attract other stakeholders and to ‘conduct business like a private company.’
Principal shareholder Gareth Roberts added: “This is an important technical change for the club which allows us to move forward and secure a long-term lease at the Horsfall Stadium, which in turn allows us to attract FA funds to improve the ground.
“We plan to expand our academy enrolment next year and base it entirely at the Horsfall. Meanwhile we will expand our community activities alongside our associated charity, the Horsfall Trust, which will become much more active in the future.
“We invite members of the community to help our efforts by donating time or money to either entity. The new CIC structure will also allow us to attract additional investors, so please contact the club if you are interested.”