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Newly-relegated Bradford Bulls have confirmed they have withdrawn a legal challenge against the six point deduction imposed when the club entered administration earlier this year.

Last month, the Bulls announced they intended to go to the High Court to oppose the punishment, handed down by the Rugby Football League (RFL), but only if it would prove beneficial for the club.

Sunday's 52-26 defeat against Huddersfield Giants at the John Smith's Stadium left the squad in 13th place in Super League - 13 points from safety with only six games remaining - confirming the club's first relegation in its Super League history.

The points deduction had already been upheld by a Sporting Sanctions Appeal Panel, which ruled the Bulls had not met the necessary threshold to allow an appeal to be fully considered.

A spokesman for the club's board of directors said today: "The directors indicated the club would only proceed with legal action in the event it would be of potential benefit to the Bulls.

"With a heavy heart and a degree of reluctance, the board have therefore taken the decision not to pursue any legal challenge to the points deduction imposed earlier this season.

"For the record, the original appeal against the points deduction was correct and amongst other factors, was as a result of the RFL’s policy and procedure being flawed.

"Following the hearing by the Sporting Sanction Appeal Panel, we felt the decision was legally incorrect and all the advice from our legal advisors confirmed this.

"In fact, our appeal has not only endorsed the review of the insolvency policy currently being undertaken by the RFL, but has expedited it, which can only benefit the sport as a whole.

"It is important we now focus firmly on the future in order to return Bradford Bulls back to its rightful place among rugby league’s elite.

"We will not achieve this by looking back and investing further in the past.

"We are aggrieved at the position the club finds itself in and recognise this was brought about as a result of the actions of previous owners and stakeholders.

"Regardless of who owned what and when, we are mindful of the strength of feeling in the rugby league community about us challenging the points deduction however we now feel it is time to move forward.

"More importantly, the board feel our supporters need closure on what has been, for them, a horrible part of the club’s history, allowing us to focus on the future.

"The club would like to place on record its thanks for the considerable support it has received during these difficult times especially from our legal advisors.

"The current board, the chairman and his fellow directors wish the club and all associated with it to know of the continued commitment to this great sporting institution, and we look forward to continued support from the supporters and sponsors."

A spokesman for the RFL said: "Bradford Bulls’ decision to drop their threatened legal action is in the best interests of the club and the wider game.

"We will be working with the club in the coming months to provide the practical assistance they need to make the transition from being a First Utility Super League club to playing in the Kingstone Press Championship."

A spokesman for the Bulls' main sponsor, the Bradford-based Provident Financial Group, said: "Provident was greatly saddened by the announcement of The Bulls’ relegation and shares the team’s and fans’ disappointment.

"We will be meeting with The Bulls to discuss the way forward."

The company, which signed a four-year £1.2million sponsorship deal in November 2012, was unable to comment on whether the deal would be affected by the Bulls losing their top-flight status.

Club owner Marc Green has written to fans inviting them to attend a meeting with directors, coaching staff and players on July 30, where a new business strategy for the club, designed to put them back amongst the "top echelons of the game", is set to be revealed.