Blockchain Sports Platform SportyCo Will Elect Not to Buy English Club With Cryptocurrency Anymore
You may have heard that the decentralized sports platform SportyCo will not purchase Hull City AFC, a team from the English Championship football club. That’s not happening anymore.
According to reports from The Next Web’s Hard Fork, the team was trying to be sold by a price that was much higher than its real market value, familiar sources affirmed. This led the negotiations to end up the deal.
The rumors of the acquisition started last October. At the time, SportsPro reported that the owners of SportyCo had started a partnership with the Hull City Supporters Trust (HCST), a local organization to represent the fans of the club. The objective of the partnership was to negotiate the deal, which would see the blockchain company paying around $58.8 million USD for the club.
Geoff Bielby, chairman of the HCST, has told the crypto media that the media misunderstood the news. The HSCT was not leading the bid, they were only representing the supporters on the negotiations.
Also, they never actually intended to make the sale using cryptos, it was all misinformation that was spread out. In the end, the price of the team was deemed to be too high and the deal was off.
In related news, there are rumors that the Tron Foundation, which is led by Justin Sun, will partner with the Liverpool Football Club, one of the largest ones in the U. K., for an undisclosed project.
Another U. K.-based team, West Ham United, has recently struck a deal with Socios.com in order to launch its own fan token.