Filed Under: Soccer
Here’s the basic idea: 50,000 members each pony up $70 to buy a share of a “purchase fund”. The resulting $2.7M fund will be used to buy a football club. (In case you’re doing the math and it doesn’t add up — part of the membership fee goes to administrative fees, of course.) Then each member has an equal vote in determining which club to purchase, player acquisitions, starting lineups, etc.
Having fans decide on starting lineups isn’t a completely novel idea. Last summer, the Schaumburg Flyers, a minor league baseball team in Illinois, teamed up with MSN for something called Fan Club: Reality Baseball that put the daily managerial decisions in the hands of the fans. Unsurprisingly, the decisions were less than stellar.
However, Myfootballclub is novel in that it lets the fans actually have an ownership interest. Well, sort of. You can never sell your share and you have to pony up a yearly membership fee. We wonder what happens if the club gets sold for a substantial profit. Shouldn’t the shares be distributed to the ownership trust? We doubt it — but we’ll keep an eye on this site.
It’s unfortunate that a million Cubs fans couldn’t pony up $800 each to buy the Cubs this year. The bitching and moaning of Cubs fans as they argued over players, trades and lineups would have been priceless. The Cubs would be a last place team with a bloated payroll… oh wait, they already are.