Former Warriors Monty Betham has pulled the pin on his quest to launch a crowdfunding campaign to buy the Warriors.
With Warriors owner Eric Watson locked in negotiations to sell, Betham made a plea to league fans earlier this week to buy a potential stake in the club.
Despite receiving overwhelming feedback, Betham received a phone call from Warriors chief executive Jim Doyle on Friday afternoon, saying negotiations were on-going, but crowdfunding did not feature in future plans.
"We knew we had a very passionate community, and when you look at others like Real Madrid and Green Bay, they have made it work, so we thought we would give it a go," said Betham, who made over 100 appearances for the Warriors.
"I talk to Warriors fans everyday, so I thought I would give them a chance to truly back their team. I was astounded by how much passion was shown and how many people got behind it, people from all over the world wanting to put their $100 in.