We've written about the phenomenon of team buying, whereby consumers band together to negotiate good deals. A different kind of team buying is being initiated in the UK, where a large number of people will buy a sports team. MyFootballClub, which launched just two weeks ago, aims to buy a professional league football/soccer club. Football fans can currently register for free, but commit to paying GBP 35 as soon as 50,000 people have registered. This will create a purchase fund of GBP 1,375,000, plus GBP 375,000 for staffing and running MyFootballClub.
When registering, members vote for the team they'd like to buy. As soon as they've paid their membership fee, they can confirm their prior choice or pick another team. After a club has been purchased, a Board will be formed to help run it, containing existing supporters of the club, existing board members, new directors and a member of the MyFootballClub web team. The Board will consult MyFootballClub members on all major decisions. All members will be able to vote, and decisions will be made based on those votes. Which, theoretically, should create steadier management than most clubs have, where personal politics and clashing interests can get in the way of sound decision making. And, as MyFootballClub states: "Without having to rely on the wealth and goodwill of an individual owner, the club will benefit from the pooled resources, knowledge and enthusiasm of thousands of football fans worldwide."
Members will be able to vote on crucial matters such as team formation, tactics and substitutions. To keep members fully in the loop, the head coach and players will give regular video briefings, which will be available online, as well as reports from the training ground. Wisdom of the crowds will also be used to decide which players to buy or sell, and for how much. To ensure all members have equal rights, MyFootballClub limits ownership to one share per member.
Next up: crowd-funded baseball, hockey, basketball and (American) football teams? Or get creative and find another project that could benefit from crowd clout. Various revenue models are possible. If you're charging membership fees, be sure to follow MyFootballClub's lead and be very upfront about how much you're charging for coordination and maintenance. Considering more than 22,500 members signed up for MyFootballClub over the past two weeks, the crowds definitely seem game ;-)
Website: www.myfootballclub.co.uk
Contact: contact@myfootballclub.co.uk
Spotted by: Daniel Mackenzie
Related: Sellaband, which lets individuals sponsor bands, and A Swarm of Angels, a crowd-funded movie
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One member - one vote? Why not have wighted votes. The members that has shown knowledge, foresight (by i.e. spotting talents - which may be done by voting on talents and then x-years later check the result), knowledge about the club economy etc get a far higher weighting than just a non knowledgeable member. And why not use www.peopleaggregator.net open source my space in a box?
I've signed up for this, as I think it's a really interesting idea. Having read "The Wisdom of Crowds", I am really interested to see if the aggregated average opinion of a cross-section of people will trump that of the experts. From my own point of view, I will be, if the project comes to fruition, interested to see how my own personal opinions (I am a UEFA qualified semi-professional football coach) shape up against the aggregated average of the collective. Whether it succeeds or fails, it is a bold and interesting experiment!
Hi,
This story has now moved on. Over 7,000 people paid their money in the first 24 hours , on August 1st 07. Many people are joining every day and a team will be bought in the near future.
People from all over the world have become members,
Hi Keith -- Yes, it is moving on! See our recent update for more details:
http://springwise.com/lifestyle_leisure/crowdbuying_a_soccer_team_upda/
Iam writing to apply to obtain a position as footballer player in your prgressive Team.
While I applaud the idea, community ownership of a major sports franchise is not a new concept. The Green Bay Packers (of the American National Football League) have been community owned since 1923. http://en.wikipedia.org/wiki/Green_Bay_Packers
The voting idea is new and different, although, I would be concerned with the "average" member being able to sway decisions they may not fully understand. I can tell if a player is great now, but how many fans can identify future potential or how an individual fits into the overall structure of the team organization. I fully support member input, however, the coaching and management staff must have the ability to veto member votes. You elect leaders for their leadership ability. Don't undermine their effectiveness by forcing decisions based on a communities wishes.
Looks like an interesting idea. Can't wait to see it in action.
Mike | May 15, 2007 7:50 PM