"I think the chairman got caught up in the fairytale" was Bradford manager Jim Jefferies' incisive assessment recently of Geoffrey Richmond's 'dreamland' approach to a season which has ended in the stark reality of relegation.

The fairytale in question was last season's final day heroics when Bradford bravely defied the odds and their critics by salvaging their top-flight status they had previously taken 77 years to attain.

The celebrations, however, were only just drawing to a close when the first rumblings of discontent emanated out of Valley Parade, leading to the surprise departure of Paul Jewell, the man who had not only guided the Bantams into the top flight, but kept them there.

Richmond, instead of looking to build on the foundations Jewell had built by employing an experienced replacement, chose to hire from within - after all the trick worked with Jewell - with Chris Hutchings promoted from assistant.

At first all seemed rosy, with the Bantams soon embroiled in the euphoria of their debut European experience - even if it was only the Intertoto Cup - one which ended after six games at the semi-final stage.

But there was no doubt it was a case of Bradford trying to run after only just learning to crawl among the pacesetters of the Premier League.

Richmond, perhaps naively and after years of careful financial management, decided that bringing in players on big-money salaries was the way forward.

The City supremo, having watched the way team spirit and camaraderie had kept Bradford in the Premiership the previous season, decided to risk it all on a bunch of highly-paid mercenaries.

After the Bosman signings of Ian Nolan and Peter Atherton, a club record £2.5million was spent on David Hopkin, who coolly pocketed £18,000-per-week, while Dan Petrescu was signed from Chelsea on £16,000-per-week.

Then all logic and reasoning went out of the window the day Bradford signed Benito Carbone, who was paraded in front of 500 die-hard fans upon his arrival.

But their cheers would surely have choked in their throats if they had known then what they know now - that he was to become one of the Premier League's most highly-paid players on a stupefying £40,000-per-week.

There is no doubting Carbone was the hero on a balmy August night at Valley Parade when Chelsea's continental all-stars strode into town, but it was the Bantams' Italian who stole the show in a 2-0 win.

That, though, was as good as it got for Hutchings as Bradford then embarked on a miserable run of results, which included a 6-0 hammering at Old Trafford to Manchester United.

As City slipped further down the table, Hutchings gambled with his career by signing the footballing enigma that is Stan Collymore - the words 'straws' and 'clutching' sprang to mind at the time - with the man of many clubs picking up £19,000 for the weeks he played, and £14,000 for those he didn't.

But like Carbone, Collymore's impact was instant and spectacular, scoring a breathtaking overhead volley in a 1-1 home draw with Leeds. Hutching's job was safe...but not for long.

In fact, just eight days later - and five days after Richmond had suffered a health scare in a Worthington Cup defeat at Newcastle - the City supremo fired the former Chelsea and Huddersfield defender.

Hutchings quickly lashed out at Richmond, believing he had not been given enough time, but a run of 10 league matches without a win - and with Bradford one off the bottom - told the story.

Jim Jefferies, renowned for his softly-spoken manner but his ruthlessness in the dressing room, was soon appointed, but only after City had hit rock-bottom after losing their two games under caretaker Stuart McCall.

Jefferies' honeymoon lasted all of two matches from which Bradford won four points, but that was followed by three successive defeats - leaving the Scot ready to wield the axe.

Since a 2-1 win at Leicester on New Year's Day - the club's last victory - Bradford have been hurtling headlong towards the First Division, with players leaving as quickly as the club could show them the door.

Carbone, Petrescu and Collymore were told in no uncertain terms they had no part to play in the future of the club by Jefferies, with the latter two then fixing up transfers to Southampton and Real Oviedo - although Collymore decided to finally hang up his boots for good after less than a month in Spain.

Carbone, though, was frozen out of the picture until handed a reprieve after two months kicking his expensive heels on the sidelines, but that did not stop Jefferies from maintaining his exodus.

With Richmond looking to save as much money as possible in preparation for life in Division One, the likes of Peter Atherton, Lee Sharpe, David Hopkin, Dean Windass, Andy O'Brien and Peter Beagrie were all allowed to leave.

At least Bradford eventually showed some fight with back-to-back 2-0 wins over Charlton and Derby, but it only delayed the inevitable, a 2-1 defeat at Everton sending them back to the First Division.

After two years in the Premiership, the club's 'fairytale' is finally over and now they face the unenviable task of trying to achieve what initially took them 77 years to accomplish - promotion to the top flight.

It will be done Jefferies' way because he has long maintained he wants to build his own team and so be accountable for the club's success or failure.

For Richmond, it will either be another dream or a nightmare.