50,000 Fans Buy a Team

14 11 2007

Wow. Imagine if this plan is carried over for other teams, even sports teams in America. It’s like a company, so everyone has a vote on management. that’s very hands-on. I think I like it.

Wisdom of Crowds on the Pitch: 50,000 Fans Acquire English Football Club

“Earlier this year MyFootballClub.co.uk was launched with the intent to gather together a crowd of football-obsessed Internet users to pool resources and buy a minor English football club. About 50,000 members paid £35 (US$72.42), creating a fund of about £1,375,000, and today the site announced that they had parlayed that cash into a deal in principle to acquire a majority stake in English minor league football club Ebbsfleet United for US$1.45 million. The site’s members will have the option to buy the entire club in the future at a fixed price.

“MyFootballClub members will own the club, vote on team selection, decide which players to buy and sell and guide the club up the leagues,” proclaimed the web site this morning. According to Reuters the club welcomes the fan involvement, with management looking forward to using the influx of cash to expand the club. “During and after matches, Ebbsfleet supporters often give me their opinion on which players should or shouldn’t start games. Now they can have their say,” Coach Liam Dash told the BBC. But the excited Brits need only look Stateside to see that the wisdom of crowds is not always so wise when applied to professional team sports…”

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