June 30, 2007

Would You Pay $2,200 for the Predators?

Springwise, a blog of "promising new business ideas for entrepreneurial minds," recently reported on a new venture in Great Britain called My Football Club, which aims to organize thousands of members of the general public into a group to purchase a soccer franchise.

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."