Bradford City have had offer from controversial cryptocurrency firm WAGMI United but Stefan Rupp says sale 'not imminent'

Reports have emerged that the American firm were looking to purchase an English lower-league club and the speculation honed in on Bradford City.

On Thursday evening the Bantams told The Yorkshire Post no offer had been received but by Friday morning it emerged that was no longer the case. City dismissed speculation that talks were at "an advanced stage" however.

“Despite various reports claiming a change of ownership is imminent, I can confirm it is not," said Rupp in a statement.

“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.”

According to the Washington Post, WAGMI's revolved around using 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.

A number of top English and European clubs including Leeds United, Arsenal, Aston VIlla, Manchester City, West Ham United, Barcelona and Paris Saint-Germain. Southampton and Watford wear the logos of bitcoin companies on their shirts.

Fans groups have been largely opposed to the financially risky schemes, which they claim are largely unregulated.