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.”