Bradford say gossip on social media is deterring potentially interested parties from investing in the club.
The Bulls recently answered questions posed by supporters and the club confirmed that “non-factual reporting” online has put investors off.
The club said: “Some people have looked at some of the social media around the club and have been put off by some of the non-factual reporting in some quarters.
“It is a real shame, some people who claim to care for the club are actually damaging it.”
The Bulls also deny that Nigel Wood will become the club’s CEO, stating that he owns a 10% stake, and crediting him with helping to rescue the club.
“He and his wife have agreed to own 10%.
“He was asked by others to help save the club and he did.
“He has used his network of contacts around the sport and around the city to build a coalition of the willing, to rescue the Bulls.
“Nigel has a very demanding full-time world job, which means he is not able to commit the time and energy required to be a Director of the club.
“He has agreed to provide advice and assistance where he can and will continue to support the team when he is actually in this country.”