Fan mobs and the power of the collective purse
August 19th, 2007

UK based MyFootballClub is leveraging social networking to purchase a professional English soccer team. The site launched in April and has attracted 53,000 members and raised more than £1.375 million ($2.73 million) in member subscriptions. They are apparently in negotiations with four prospective acquisition targets. Not sure what the going rate is for a football (soccer) club is these days, but $2.73 Million sounds like a pretty darn good down payment!According to this TechCrunch posting, members are to have “an equal say in team selection, player transfers and the running of the club.”

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