Bradford City Receives A Bid from Crypto Group for A Buyout

  • The WAGMI United crypto group offered to buy out the Bradford City AFC.
  • The WAGMI Group has been relying on NFTs as a matter of ownership.

WAGMI United, a group of U.S. cryptocurrency investors has put forward a buyout offer to the British League 2 Club Bradford City. The football club chairman Stefan Rupp confirmed the same in a word with Washington Post. The group also aims to rely on non-fungible tokens (NFTs) as a matter of ownership. Rupp further noted:

Despite various reports claiming a change of ownership is imminent, I can confirm it is not. Yesterday (Thursday), I received an email from a representative of the WAGMI United group with an offer to purchase Bradford City AFC. That is all I have received, nothing more, and no further action has taken place.

Just as the name suggests non-fungible tokens (NFTs) can be bought and sold like any other property. These digital tokens usually represent certificates of ownership for virtual or physical assets.

The publication further noted: “NFTs a cornerstone of the organizational blueprint around which it hopes to build a vibrant – and financially invested – digital community”.

The Plans Ahead By WAGMI United

Well, WAGMI hasn’t sealed the deal entirely with Bradford City for now but has some interesting plans ahead. Speaking to The Post, WAGMI co-founder Eben Smith said:

So we are going to try a bunch of unconventional stuff but will be pretty much led by the numbers from an analytical perspective. And our hope is that it works. There’s not that much downside if it doesn’t.

The Post further noted that the WAGMI United Group includes NBA side Philadelphia 76ers’ team president Daryl Morey. It also has businessman Gary Vaynerchuk and TikTok personality Bryce Hall onboard.

The WAGMI United Group has further planned to invest its NFT Revenue Stream for investing in analytics and “outspend opponents” in the pursuit of the promotion through the EFL to the Premier League.

Crypto and the Soccer Clubs

Several soccer clubs have shown their affinity to the emerging world of digital assets. Back in September, football club PSG announced its partnership with becoming its first official crypto partner. The two have made collaboration on exclusive NFTs and other sponsorship payments in the native CRO token.

Furthermore, FinTech firm Yield App announced its partnership with Premier League football club West Ham United. Back in October 2021, BitMEX Alex Hoptner also stated that bitcoin and cryptos could serve as the next big financing asset for soccer teams. He further added:

Tokenization of assets is a big thing going forward, as we see in the NFT space. Being in the middle of mass market retail movement, crypto firms can actually be in the next financing means for these clubs.

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