Initiated by Will Brooks, each member will sign up to myfootballclub.co.uk by paying £35 as membership fee. With the current membership of 53,000, a total of £1.5 million will be collected which will be used to buy the club. Of course, this amount will only be able to purchase clubs at the fourth or fifth tiers of English football. However, if no club is being purchased within 12 months, the collected fund will be refunded to the member.
Each member who signed up will receive one vote-carrying share. This share will automatically make the member being one of the owners of the club. This enable each member to take part in the decision making process through the website on matters such as which club to purchase, team formations and players transfers based on the majority votes.
Currently, there are four clubs which has approached myfootballclub.co.uk to negotiate a takeover or purchase. One of them is Leeds United, an illustrious and famous club that used to play in the European competition and Premier League. The club also once boosted some of the talented players such as Harry Kewell, Mark Viduka and Lee Bowyer. The club has gone into administration last season due to insolvency.
This is an innovative business model where football fans are given the opportunity to own a football club. It would be more enterprising if the members are also entitled for any profit earned while owning the club. The liability of running the club will be £35 per person which turning out to be a low risk investment. Good idea! Do you think this idea can work in your country?