The offer to buy the Bulls has been submitted to the administrator by Super League chief executive Nigel Wood on behalf of the other 13 clubs.
Wood said: "This saga has gone on for far too long and we are of the view that direct positive action is required to safeguard the future of Bradford Bulls. Under the ownership of SLE, we can plot a course for Bradford Bulls which is in the best interests of the club, the competition and the wider game."
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