Bradford chairman Marc Green has revealed the Bulls have been placed into administration.
The Kingstone Press Championship club faced a winding-up petition by HM Revenue and Customs last month due to a tax dispute.
"I have been talking to a number of serious investors and purely the pressure from HMRC has forced the club to be put into this position to save its future," Green said in a statement.
"There is a dispute between ourselves and HMRC which we have been working hard to resolve since the winding up petition was issued and despite two adjournments from the courts to resolve this matter we have been unable to do so.
“We were concerned over the ability to secure a third adjournment and therefore this action became unavoidable to protect the club.
"I will be working closely with the Administrators over the coming weeks and it is my intention to regain this club from them within the shortest practicable time frame.
"Regardless of whether I remain at the helm of this great club, I will ensure all memberships already purchased for next season will remain valid, as will the offer under which they were purchased. I believe the future of Bradford Bulls is still strong."
Bradford Bulls were placed in administration in 2012 and again in 2014 before Leeds-based businessman Green took over of the club. The club said there would be no further comment at this time.
- More about:
- Bradford Bulls