Benito Carbone proved a costly mistake

The Professional Footballers' Association has arranged and helped to finance a deal which should see the Italian striker return home and sign for Como, who have been promoted to Serie A.

Carbone's contract has been cancelled by mutual consent and the PFA has negotiated a settlement and also played an integral role in structuring and financing the club's CVA.

Bradford chairman Geoffrey Richmond told BBC Radio Five Live that he was relieved with outcome of the CVA but stressed that the Bantams were not yet in the clear.

He said: "It's a considerable relief. It's a good day for Bradford City.

"Everything has fallen into place right at the end. But we still have an important hurdle to overcome with the date with the Football League in Preston on Tuesday."

Richmond admitted that he had made mistakes in his role as chairman, but was adamant that all decisions were made in the best interests of the club.

He said: "I wish I had played it a different way. It looked right at the time though.

"Sometimes when you are chairman of a football club you get hanged if you do and hanged if you don't.

"If we had got relegated and hadn't made serious attempts to stay up I think fans would have been angry.

"I certainly didn't see fans protesting in the streets as we were signing Benito Carbone, Stan Collymore, Dan Petrescu, David Hopkin, Ashley Ward and others - there were celebrations in the streets.

"But it didn't work out and the rest is history."