I have been following a thread on weenie blog, about an opportunity to buy a share in an English football league club. Anyone wishing to become a member can sign up on the website, Myfootballclub. The idea being to purchase an existing club in league one or two.
Each member makes a payment of thirty five pounds and will own one share in the club. This entitles the shareholder to vote on team selection and player transfers, while guiding the team up the leagues.
This is not an entirely new concept as The Times reported earlier this week, it is already happening with a club in Israel.
The co-operative is looking to raise a fund of 1,375,000 GB pounds with a membership of 50,000. The football clubs seem to be taking it seriously as well, it is reported that several clubs have approached the website as prospective candidates.
According to weenie, who is a member, the club to be purchased has already been chosen, and an announcement will be made very soon.
4 comments so far
1 weenie // Nov 2, 2007 at 12:04 am
Hi. thanks mentioning my blog!
And yes. a club has been chosen and is currently subject to due diligence by the MyFootballClub team of financial and legal representatives.
The exciting thing is that once all investigations have been conducted. members will be presented with the findings and will get to vote on whether to actually go ahead with the club purchase…
I signed up for this nearly 6 months ago as did many others so can’t see the vote being a ‘No’….
Why don’t you sign up for 35 quid and have a year-long rollercoaster ride – if it won’t be the best 35 quid you’ve spent. well it’s certainly different!
2 jc // Nov 2, 2007 at 12:59 am
how will the team selection work. has to be up to the manger and not to a voting system. overall sounds like a really good idea.
3 mjr // Nov 3, 2007 at 4:29 pm
Odd choice in the Times article of some club in Israel. Mass-supporter-owned clubs include Brentford. Exeter and Barcelona…
4 weenie // Nov 5, 2007 at 2:37 pm
The choice does seem a little odd but their supporter-owned model is the closest to that of MyFootballClub. in that some decisions were being made online by fans. This doesn’t happen currently with Brentford. Exeter or Barca…