Libereum Crypto Company Buys The Spanish Elche Football Club Worth €80 Million
Libereum, A Crypto Company, Buys The Spanish Elche Football Club
A Dutch crypto company called Libereum has decided to invest in the sports market. The company has announced yesterday, December 26, that it had just bought the Spanish football club Elche FC.
Libereum has the plan of using its own token called Liber as the only method of acquiring access to the games of the clubs that the company owns. Not very decentralized, mind you, but a good business move nevertheless.
The company has paid almost $5 million USD to the club as the first downpayment and more payments are expected later. Now, the company is set to purchase other sports clubs like Roda JC Kerkrade, a football team based in the Netherlands. According to reports from European newspapers, the deal would be finished this week for $80 million EUR, but it has fallen through.
About Libereum And The Elche FC
Libereum started as a startup company last year and it is based on Ethereum technology just like the many other companies that appeared during the ICO craze last year.
One of the main goals of Libereum is to become one of the top 10 cryptos in the market starting to count now. Basically, the company wants to become one of the major companies during 2019 now that it has acquired its first club.
The Elche FC is a small football team from Spain. It is set in Elche, the third largest town in the state of Valencia. While the club is not one of the Spanish stars of the moment, it is quite old. It was founded in 1923. However, recently the club was punished for not paying its taxes and demoted to the Segunda División A of the country.
Libereum’s main goal is to inject a lot of money into the team and to bring it back to the First division once again in about 2 to 3 seasons. The CEO and founder of Libereum, Cem Kumlar, believes that this is possible.
According to him, the club shares the vision that Libereum has in a crypto future and it is willing to communicate its vision with the supporters.
With the acquisition of the club, Libereum wants to take it to the first division and to incorporate the token as a financial part of the team, so that things are accessible and easy to use and that the supporters will be taken into the crypto future.