Are Bradford City the EFL club set to be taken over by cryptocurrency investors
Bradford City have distanced themselves from reports in America that they are the subject of a takeover bid from a group of investors backed by cryptocurrency.
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 is also said to be ready 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 City, with their status as one of the bigger clubs in League Two, were immediately linked as the subject of the bid.
But it is understood owner Stefan Rupp is not looking to sell the club at present and sources confirmed to The Yorkshire Post that Bradford have received nothing in the way of an offer.
The Washington Post reports that the group intends to complete their purchase of an EFL club in the next month and plan to use advanced analytics to drive the club forward.
The WAGMI United group includes Daryl Morey, team president of the Philadelphia 76ers in the NBA and one of the pioneers of analytics in basketball, as well as investors from the cryptocurrency world.