One of the leading football clubs of Portugal “sporting” considering the ICO to overcome financial difficulties.
According to the local newspaper Dinheiro Vivo, the Vice-President of the club , Francisco Salgado Zegna (Francisco Salgado Zenha) explained that the club is thinking of this option, but concrete decisions yet.
Zegna noted that the ICO provides an alternative way of attracting funding and the ability to “use this new world of digital currencies”.
“We are carefully eyeing the ICO. Hold meetings on this topic. The Sporting brand has a lot of potential,” said Vice-President of the club.
Currently, the club from Lisbon holds bond placement in the amount of €30 million, the subscription will end on the 22nd of November, and the goal is far from achieved. The funds the club needs to pay off the old bond issue which are due on November 26.
If the subscription of the bonds will not bring enough money, the club may have to sell players, added the Vice-President.
Sporting Clube de Portugal the first of the football clubs drew attention to this method of attracting investment, as ICO. Previously, the team Avai from the second division of Brazilian football has announced plans of placing tokens with the aim to raise funds to enter the top League. The clubs of the English Premier League, Newcastle and Cardiff on the contrary was considered by the ICO as an opportunity to replenish the budget for maintaining residence in the elite division.
Also about the issue of private tokens was declared the French “PSG” and Italian “Juventus”, but in both cases it was not about raising funds — fan-tokens should provide fans the opportunity to vote on club issues and to access additional services.
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