Help Acquire English Soccer Club With MyFootballClub

If you enjoy sports to a large degree, you’ve probably pondered owning a team. Sure it’s just a dream for most of us, but what a great dream it would be. The problem? You don’t have that kind of money, but startup MyFootballClub wants to change that. The idea is that enough money is gathered to purchase an English soccer team and have thousands of “owners”. To get in, you pay £35 ($69USD) and once the team is bought, you are officially a club co-co-co-(recurring)-owner.

I am a big fan of English soccer, especially the Premier League, but in my opinion, this has bad idea written all over it. All you need to do is pay attention to any sporting forum to know that opinions can differ vastly. How will this be combated? It will be mighty difficult with THAT many owners. So with that, it seems like more of a joke than anything, but I’m hoping to be proven wrong. It’s an interesting concept, I’ll give it that.

The legal side is fairly simple. Contributors become members of the MyFootballClub Trust for £35 ($69). £27.50 goes towards purchasing a soccer club, buying new players and other club expenditure with the remaining £7.50 going towards administration. The Trust will acquire a soccer club only on the basis that the purchase provides a controlling stake (51%+) of the club and where the club is either debt free or has a manageable level of debt.

Source: TechCrunch