Tokenizing Football Clubs The concept of going public is a well established one, so there is no innovation in that regard. So there is no innovation here except that this digitization of ownership is being brought to football clubs. Meaning it can be a very exciting thing for a globally little known football club which is now being introduced to everyone. Raising $71 million for the London Football Exchange Cash token (LFEC). Adam Little, whose background seems to be in business consulting and now works for LFE, says 400 million LFE tokens are trading.
Football has become the latest industry to greet new finance as a recent announcement turns heads across the world of sport.
“The London Football Exchange Group (“LFE”) is pleased to announce that it has entered into an Asset Sale & Purchase Agreement to acquire a majority shareholding within the current Australian Hyundai A-League Premiers and 2019/20 Asian Champions League participants, Perth Glory Football Club (“PGFC”),” the Australian top football club said.
“I’ve made no secret for the last 18 months I’ve been looking for a partner. I can’t compete with the oil sheikhs in Abu Dhabi (City Football Group, which own Melbourne FC), or the Russian oligarch in Sydney (David Traktovenko, owner of Sydney FC) or the Indonesian billionaires in Brisbane (Indonesia-based Bakrie group, owners of Brisbane Roar). I’ve looked for a partner,” said Tony Sage,...
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