Sports Technology

UK-based cryptocurrency firm SportyCo among investors warming for the Hull City Football Club bidding.

The stage seems to be set as prospectives warm for the highly contested bid over the Hull City Football Club. The Yorkshire-based professional football club may soon change ownership and bidders both local and international have been advised to put forth their bid proposals.

Many players have since taken to the stage with the previous weekend witnessing the former Hull City AFC chairperson, Paul Duffen makes known his interest of bidding the club. According to a BBC Sports report,  Duffen was leading a consortium of private investors from Saudi Arabia that was looking to acquire the championship club. Duffen worked at Hull City as the Chairperson of the club and it is during his tenure when the club made its first debut to the premier league contest. Duffen would later resign in 2009 when the club was faced with deep financial constraints.

New players have since taken to the stage with SportyCo, the cryptocurrency crowdfunding platform which operates on blockchain technology preparing a 45 million-pound bid for the same. Through SportyCo, cryptocurrency investors are able to raise funds through crowdfunding as well as invest in athletes by paying for their training and maintenance while earning dividends as per the athletes’ performance.

The dealership

SportyCo is leading a partnership with Hull City Supporters Trust (HCST) as well as a grouping of UK and US investors who together prepared a 45 million pound bid ($58.9 million) for the purchase. Reports from the Hull Daily Mail indicate that should the SportyCo bid go through, the ownership structure of the club will be redesigned such that the fans will be allowed to acquire ownership shares for the club and be able to give insights on how best they feel the club can be propelled forward.

SportyCo CEO Marko Filej recently met with the Assem and Allam family, the current owners of the club who have been looking forward to selling the club since 2014 amid public outcry from the fan base. An official letter has already been sent to signal the start of formal negotiations.

Hailing the move, Geoff Bielly, the Chairperson of HCST in a statement stated :“ we are 100% sure  that this new and unique approach of combining institutional investors and the fan base will enable us both to achieve our goals, a  successful and stable Hull City AFC that will be a joy to watch play. This model will surely be emulated by other clubs in the future and Hull City AFC fans are thrilled to be trendsetters on how fans take a more active role in clubs they support.”

 

https://sportyco.io/index.html#whysportyco

https://www.hulldailymail.co.uk/sport/football/football-news/hull-city-takeover-bidders-issue-2087695

https://www.ccn.com/crypto-firm-prepares-45-million-bid-on-hull-city-football-club/

Author: Author : Sam

Sam, has been contributing to cryptonewsbytes team since 2017. He is also a crypto-enthusiast and talented market analyst. In his free time, you will find him traveling and exploring new places.

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Sam, has been contributing to cryptonewsbytes team since 2017. He is also a crypto-enthusiast and talented market analyst. In his free time, you will find him traveling and exploring new places.
Sam, has been contributing to cryptonewsbytes team since 2017. He is also a crypto-enthusiast and talented market analyst. In his free time, you will find him traveling and exploring new places.

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