Own your own football club for 35 (well 1/50000th of one)


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Jiroczech
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Sorry if this is old news, but I just came across it mentioned in an email from Zopa (social lending thing set up by the guys who did Egg)...

www.myfootballclub.co.uk are trying to get 50,000 people to commit to invest 35 each, to buy a football club which will then be run by the investors, right down to voting on team selections. Sounds insane but I'm almost tempted just for the hell of it.

They're up to 35,000 members already with Leeds Utd. winning the vote on which club to buy.

What do you think: Scam? Gimmick? Possibility?
#1 at 23:22:25 - 13/06/2007
tannerd
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Jiroczech said:Sorry if this is old news, but I just came across it mentioned in an email from Zopa (social lending thing set up by the guys who did Egg)...

www.myfootballclub.co.uk are trying to get 50,000 people to commit to invest 35 each, to buy a football club which will then be run by the investors, right down to voting on team selections. Sounds insane but I'm almost tempted just for the hell of it.

They're up to 35,000 members already with Leeds Utd. winning the vote on which club to buy.

What do you think: Scam? Gimmick? Possibility?


1) 50,000 * 35 = 1.75 million. I doubt that's enough to purchase 51% stake in a decent club.

2) You can only purchase shares in clubs that are listed - most clubs aren't. So they would have to find club owners willing to sell.

3) You can only purchase shares that are for sale - finding a club that has shareholders wanting to sell 51% of the assets might be tricky/expensive.

Fans of the clubs might also be a bit miffed that their team is being screwed up by the board.

Nice concept though - I predict they will buy Torquay.
#2 at 00:51:20 - 14/06/2007

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