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.
"It was great to hear from Jim. He told me they had some firm plans going forward and what they're trying to do with Eric Watson.
"We weren't part of those plans. He's already talking to a number of people who have been in the business of owning clubs.
"For me, it was important to let the fans know our quest is over."
Friday night's 36-18 defeat to Souths in Sydney confined the Warriors to their seventh straight loss. Like many Warriors supporters, with two matches (Sea Eagles and Tigers) remaining in the season, Betham has major concerns.
"I'm a little bit worried about how this year could finish, potentially with nine losses in a row. Next year, you only get a half a pre-season because you've got a lot of players involved in the World Cup whether that be with Samoa, Tonga or the Kiwis.
"If culture is the problem you've got to work on within the organisation, how do you do that in half the time?
"Even last night watching the game I was really down after the game because of how passionate the fans are and the direction the club is potentially going in but I do trust Jim and where he wants to go."
Betham knows Auckland businessman Paul Davys, the man who has offered Watson $15 million to buy the Warriors, and feels he could provide a positive influence if an agreement can be reached.
At present Watson is asking for $20 million.
"Paul is another guy that is very passionate. He's got some strong opinions about what he'll change. The thing about someone like Paul is he really wants to be hands on. If I think back to my time at the club, Eric was there quite often. He would be walking down the hallway. He was another voice to help motivate us. Having a hands on owner was brilliant. Having voices like that around the club has a huge bearing on players' futures."