WAGMI United has said it has bold plans to embrace non-fungible tokens as a source of revenue — and outspend opponents to take Bradford City to the Premier League.
A group of American investors have revealed that they're planning to buy an English football team using cryptocurrency — and it's fair to say that many fans aren't all that impressed.
The outfit call themselves WAGMI United — a nod to the popular term "WAGMI," which in crypto circles means "we're all gonna make it."
Although they refused to reveal which lower-league club they were hoping to buy, reports have suggested that it is Bradford City AFC — a League Two team based in the country's north.
Jack Settleman, the owner of WAGMI United, has already had a misstep with fans. On Twitter, he had written:
"We're excited to hear from the people of Bradford. Crypto gives back to the people who make the club what it is."
That led to a stern rebuke from a Twitter user called Philip Copley, who fired back:
"The club is not 'Bradford', that is Park Avenue. Basic details like this show you are entirely unsuitable to have anything to do with the club!"
Settleman later corrected himself, adding:
"Can't wait to learn from the most faithful fans."
To make matters worse, WAGMI United said in a Twitter Spaces event that they "don't intend to come in and start fires" with their ownership of the club. In 1985, 56 fans died after a fire during a match at Bradford City's stadium.
Is It Happening?
In a statement on Friday morning, the club's chairman Stefan Rupp said:
"Despite various reports claiming a change of ownership is imminent, I can confirm it is not. Yesterday, I received an email 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."
WAGMI United has said it has bold plans to embrace non-fungible tokens as a source of revenue — and outspend opponents with a view to climbing the rankings so Bradford City can enter the Premier League, England's top tier.
"How long until those creating this project get bored? What happens a couple of years down the line when the novelty has long lost its shine and they are seeking the next crypto high in a totally different business? What then for Bradford City — and the people — that would be left behind?"