Vocal Bitcoin (BTC) investor, Peter McCormack has announced he has agreed to take over local football club Bedford FC from current Chairman Lui. Taking to Twitter to talk about the deal and the future ambitions of the club, McCormack said his desire is to push the outfit to the Premier through a thought-out process that will be funded using the Bitcoin standard.
Bedford FC will need to make a total of 9 qualifications to get to the Premier League, and while the ambitions seem daunting, McCormack is convinced it is achievable as drawing on the belief that as a Bitcoiner, anything is possible. McCormack says he will leverage his massive followership on social media to promote the brand awareness of the club, while also drawing on the global strength of Bitcoiners.
The Bitcoin entrepreneur outlined the need to raise funds through club commercialization, a move that is necessary to fund the club’s near-term and long-term aspirations. At present, he said he has inked partnerships that can make the club compete successfully as an EFL League 1 club with funding in the range of 1.6 to 4 million Euros. This financial base, according to him, will help the club onboard the right players, and coaches, all of which will be essential to achieving its goal.
“Based on the sponsorships I have already sold and interest in our merchandise. Our year 1 revenue could match a small league 1 club. We can therefore afford the best players and managers,” McCormack said in the Tweet, “Where local teams can only tap into a local community of fans/companies to drive revenue, we have a global army of #bitcoin holders and companies who can get behind this.”
The Convergence of Crypto and Sports
There is a growing point of convergence between stakeholders in the blockchain and digital currency ecosystem and sports teams. From sponsorships to complete team acquisition as Peter McCormack did, the nascent world of crypto is leveraging the love and global presence of football and other sport games to push forth the awareness of this new industry.
As reported earlier by TheCoinRise, FTX Derivative Exchange secured a Super Bowl ad spot, to promote crypto to no fewer than 92 million viewers. Other brands include Coinbase Global. Other deals include the launch of new tokens by former Arsenal legend Mesut Ozil and the partnership between socios.com and Brooklyn Nets.
Deals like this are not uncommon in the crypto and sports world, and the new frontiers of both industries are being pushed to help take crypto to the mainstream.