English premier league football clubs experience financial difficulties. Football clubs begin negotiations with SportyCo decentralized by the platform for investment into sport about starting its own ICO. Earlier this platform has already helped the Spanish football club Avai Futebol Clube to attract $20 million by means of public token sale of AVAI tokens. SportyCo is also one of the main sponsors of other prestigious football club Espanyol.
Advantages of own cryptocurrencies
Cooperating with the SportyCo platform, clubs will be able to start and to realize its own digital tokens. The people who will buy these tokens, then will receive some share of revenues of football club, or will be able to gain various privileges connected with club or upcoming games.
Now, both clubs don’t have good financial position. NewCastle United sustains losses because of illiterate decisions of the owner Mark Ashley while Cardiff City has the debts of $150 million.
The possession of a football club is a general problem. If you want to have an FC, it is necessary to have really thick wallet, especially if the most part of clubs can’t even cover own losses. Has said Sir John Madejski – an English businessman and a key person of English Football
Football clubs have begun to understand that individual possession of club begins to become unprofitable and therefore they need a help. ICO in many respects help in this situation, being the tool for crowdfunding. All money received from sales of tokens will go directly for development of clubs. ICO will help all sports industry to enter during a new era.
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