Their goal was to rely on non-fungible tokens (NFTs) as a model of ownership.
“A lot has been aired publicly since the offer was made. This, as well as a number of factors that will remain private, has led me to this decision,” President Stefan Rupp told the club’s website.
“As the proud custodian of this wonderful football club, my first and foremost responsibility is to protect it and safeguard its long-term future, while upholding our values.
“I, and certainly no one else related to this football club, are actively trying to promote its sale, and my commitment has not changed.
“The matter is closed and our attention returns to what is really important as we move towards a strong second half of the season and aim to achieve our goals.”
Bradford is currently 16th in League Two, seven points away from the play-offs after a 10-game winless streak. The game scheduled for Saturday at Carlisle was one of 19 in the English Football League postponed due to Covid-19 cases.
What are NFTs and why are some worth millions?
NFTs are “unique” digital assets that can be bought and sold like any other property, but do not have a tangible shape of their own.
Digital tokens can be considered certificates of ownership of virtual or physical assets.
The Washington Post reported that the group aimed to make “NFTs a cornerstone of the organizational plan around which it hopes to build a vibrant and financially invested digital community.”
According to the Post, the group, which includes NBA Philadelphia 76ers team president Daryl Morey, businessman Gary Vaynerchuk and TikTok personality Bryce Hall, planned to use their NFT income stream to invest in analytics and “Spend more than opponents” in pursuit of promotion through the EFL to the Premier League.