Bradford City chairman rejects cryptocurrency-backed takeover of League Two club | Football News

The cryptocurrency-backed takeover of Bradford City has been rejected.

Chairman Stefan Rupp confirmed on Friday that a bid had been made by WAGMI United group, who were reportedly seeking to purchase the club with cryptocurrency – the online trading currency.

It is believed that the US company were 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.

Rupp has resisted the offer, though, saying his « most important responsibility » is to « protect and safeguard » the long-term future of Bradford.

Rupp said in a statement: « On Thursday I received an offer from the WAGMI United group to purchase the football club. This has been rejected.

« A great deal has been aired publicly since the offer was made. This, as well as a number of factors which will remain private, has led me to this decision.

« As a proud custodian of this wonderful football club, my first and most important responsibility is to protect it and safeguard its long-term future, while upholding our values.

« I, and certainly no one else connected to this football club, is actively trying to promote its sale, and my commitment has not changed.

« The matter is closed, and our attention returns to what is truly important, as we build towards a strong second half of the season and aim to achieve our goals.

« I would like to take this opportunity to wish everyone associated with Bradford City AFC a very Merry Christmas, as we look forward to 2022. »