MyFootballClub reaches 50,000 target August 2, 2007
Posted by Andy Roberts in : ebbsfleet, crowdsource, UK , trackback
On July 17th I reported that MyFootballClub was close to reaching the target of 50,000 registered interests and today this has been overtaken. This means that email invitations have gone out to join for real and cough up the membership fee. So do you really get to own part of a football club for £35? I looked into it a bit further and found out a few things. Let’s see if we can add some more.
Q. Is it a one-off price for a genuine share issue?
A. No. The £35 is an annual membership fee.
Q. But do I still get to own a club?
A. Yes. The club will be owned and controlled by the membership through the MyFootballClub Trust. This is a not for profit organisation separate from MyFootballClub Ltd, which runs the website.
Q. So if the club is successful, will I make any money?
A Not in any obvious way. The Trust is registered as an “Industrial and Provident Society” and is protected against carpetbaggers by a clause which directs that if the club is sold, all proceeds will be donated to charity. So it won’t happen.
Q. Right. So what do I get for my £35 a year then?
A. Effective part ownership of a football club. The opportunity to vote on a whole range of decisions, including team selection. Access to the members area of the website. The fun of being part of a unique crowdsourcing experiment. A real sense of grassroots ownership of the first club to be directed by fans.
Q. And what does my £35 get spent on?
A. £27.50 will go towards purchasing a football club, buying new players and other club expenditure. £7.50 will go towards the administration of the MyFootballClub Trust and the building and management of the MyFootballClub website.
Q OK how do I sign up?
A http://www.myfootballclub.co.uk
myfootballclub
is an online professional who initiated DARnet 
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