Wednesday 9 May 2012

Crowdfunding Football - The Economist

England is well known for its love of football and having some of the best fans in the world. Unlike many countries, big crowds turn out throughout the leagues week in and week out. The majority of the best clubs in England are sadly owned by foreign investors because they have the vast wealth needed to bank roll these type of business ventures. Portsmouth were relegated from the premiership in 2010 whilst in administration and have hit administration again and are joining League One in September.

A new scheme has been devised by the "Pompey Supporter's Trust", which is relatively unheard of in English football. They are proposing that every fan puts £100 into an escrow account and if enough people do so a community share scheme will be set up. When asked how much they would be willing to give people replies with £1000 or as much as they could afford, which is a sizeable sum.

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