However, Richmond insisted he has acted only as an unpaid advisor but admitted "a member of his family", thought to be his son, David, could become an investor in the club.
Richmond, who quit Bradford with the club heavily in debt, told the Yorkshire Post: "I would like to take this opportunity to clarify the situation and lay to rest any further rumours regarding my involvement. Over recent weeks I have been advising the Yorkshire consortium who requested my input from a football perspective, having more than 15 years´ experience in the game at professional club level."