MTFT - launched last month - had planned to launch a possible takeover bid of Mansfield Town FC and give fans a say in the running of the troubled club.
Supporters, who would have been asked to buy £1,000 shares in the group to fund a buyout, were asked to register an interest in MTFT's plans.
But this week the group admitted defeat in its bid to try to end the long-running takeover saga at Field Mill.
A statement released on Tuesday said it was closing down the website and attempt to raise money to buy the club through fans, local people and businesses.
A spokesman said: "We believed that there would be sufficient momentum to have gathered more interest than we have, given the problems at the club and the lack of a bid that appears to be going anywhere.
"Additionally, we were disappointed but not surprised not to have received support from any of the other fans groups. We understand their positions, but still feel that they could have got behind this proposal more positively."
E-mails have been sent to those people who registered on the website, thanking them for their interest and for taking the trouble to register.
The spokesman added: "It also seems unlikely that we will see a united fans grouping attempting to buy the club as the agendas of the different groups are clearly and understandably different."
"We have at least tried to do something positive to deal with the issue as we see it and would finally like to thank all those who helped and supported us over the last month or more."
MTFT had been set up following frustrations at the year-long takeover saga at Field Mill, where controversial owner Keith Haslam recently rejected a £3m plus offer from the James Derry consortium.
The new group said at the time it was formed: "We believe a football club owned and run by the people who care about it most is the best way to secure the club's future. Mansfield Town is in a desperate position, bottom of the Football League, struggling financially and with supporters staying away in numbers and calling for Keith Haslam to sell the club.
"We urge our fellow supporters and supporters groups to unite, to work with MTFT and to help bring enough support to this idea to ensure Mansfield Town has a future, a future where the club is run by the people who care about it most."
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