Bradford have been deducted six points with immediate effect as a penalty for entering administration.
And in a double blow, chairman Mark Moore has announced that Bradford Bulls 2014 Ltd, the holding company which had a bid to purchase the club accepted last week, has withdrawn its offer.
The points deduction, the equivalent to three competition wins, leaves the Bulls on -4 points. They were also deducted points in 2012 after entering administration.
Moore said: "It is with great sadness and frustration that we have been led to this point.
"I believe that we have been forced into making this decision, due to the Rugby Football League's proposed sanction of a six-point deduction, making relegation almost a certainty."
In a statement on the club's official website, Moore was critical of the RFL, particularly surrounding a meeting on January 9, which involved Omar Khan and his associates.
He added: "Without following proper protocol, the RFL closed the meeting while discussions were still taking place and stakeholders were allowed to leave.
"No documents were signed and, as such, this led to a disagreement in the weeks which followed between one stakeholder and the other three.
"This poor leadership by the RFL was, I believe, detrimental to the ownership of the club being agreed amicably, which then ultimately led to it then being forced into administration.
"Due to the error made by the governing body, the players, staff and supporters have now been asked to suffer a six-point deduction along with heavy financial restrictions.
"It feels like a real slap in the face to our team, our partners, the sport and, most importantly, our supporters, of whom we have been working tirelessly for."
To view the statement in full, click here