Bradford chairman Stefan Rupp denied that a takeover by cryptocurrency-backed WAGMI United is imminent, but admitted a bid for the club has been made by the group.
The Washington Post reported on Thursday that the WAGMI United group were in advanced stages of purchasing a lower-league EFL club with cryptocurrency – the online trading currency – said to be their main source of funding.
The WAGMI United group are also believed to be planning to use non-fungible tokens (NFTs) – a unique and non-interchangeable unit of data stored on a blockchain – to create a new model of sports club ownership.
Bradford are a club WAGMI have their eye on, Rupp confirmed, but there is still a long way to go before any takeover can take place.
“Despite various reports claiming a change of ownership is imminent, I can confirm it is not,” Rupp said in a statement.
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“Yesterday, I received an e-mail from a representative of the WAGMI United group with an offer to purchase Bradford City AFC.
“That is all I have received, nothing more, and no further action has taken place.”
WAGMI held a Twitter “space” announcement on social media on Thursday, without naming any club, with a few supporters able to pose questions.
The group outlined their plans, claiming that their end goal was to get the club they purchase into the Premier League.