Chris Brereton, the man who was set to become the club’s new owner, has withdrawn from the Consortium looking to buy the club.
The former Wakefield director, who helped save Trinity from bankruptcy in 2013, had been in strong talks in recent weeks over the future ownership of the club.
However, he has now decided to pull himself out of the bid.
In a statement released on the Bulls’ website, Brereton said: “Over the weekend, I have decided to withdraw from the Consortium looking to save Bradford Bulls. I have offered to help both the Consortium and the Rugby League moving forward.
“I would like to thank the Rugby League for their help and advice during this process and Simon Hustler of Charters Solicitors for his guidance.
“Finally, I would like to apologise to all the fans of Bradford Bulls for not being able to help, and wish you, any new owners of the Club, success in the future.”