Bradford City AFC Chair Rejects WAGMI United Takeover Bid

A bid from a group of well-known crypto investors and entrepreneurs to buy an English Football League club has been rescinded by the club’s owner, according to a statement from the group, WAGMI United.

WAGMI United, led by Preston Johnson (formerly of ESPN and current Lucky Trader NFT Show host) and Eben Smith (co-founder of Digital Collectibles Agency), said it had a “deal in principle” with Bradford City AFC Chairman Stefan Rupp to purchase the League Two club before Rupp backed out suddenly Saturday.

Rupp also issued a statement Saturday afternoon telling fans he was rejecting the offer to buy the club, which he said came by email on Thursday.

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

WAGMI United said that Rupp “obviously now had a change of heart.”

“But to suggest he’d never heard of WAGMI United before Thursday or that no further action was taken following our offer is simply untrue,” said WAGMI United in the statement.

It would have been one of the first cryptocurrency-backed professional sports team purchases. WAGMI United’s investors include Pixel Vault founder Sean Gearin, Philadelphia 76ers Team President Daryl Morey, and entrepreneur Gary Vaynerchuk.

“We had sincerely hoped to build a relationship of respect, honesty and openness with the Bantams’ strong existing supporter base while also bringing in new fans from around the world,” said WAGMI United. 

The group said it would “continue to look for other opportunities” in acquiring other football clubs.