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Lanterne Rouge

By Lanterne Rouge
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Lanterne Rouge

Lanterne Rouge

Posted
Posted

Some strange goings-on in deepest Sussex. Apparently their new owners have sacked Matt Etherington as manager after 32 days and their co-chairman was in the dugout for their game v Stevenage. It appears that this was as a result of them selling Tom Nicholls to Gillingham when he didn`t want to go and Etherington wanted him to stay. Our old boy Darren Byfield is now in charge temporarily.

I can`t see this ending well, another Macclesfield is looming I think.

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ExiledAjax

ExiledAjax

Posted
Posted (edited)
6 minutes ago, Lanterne Rouge said:

I haven`t seen that - how did that work?

This is from the summer. 

https://www.google.com/amp/s/amp.theguardian.com/football/2022/jun/09/web3-in-league-two-crawley-town-and-the-crypto-bros

“A lot of the world whether it be football, sport crypto or whatever is living a more digitally native life,” says Johnson. “We think there’s an opportunity for the remote fan to attach themselves to a club as a result. We want to offer unprecedented access to local as well as remote fans and technology gives us that ability to do it in a way that hasn’t been done before. That’s the macro vision.”

Johnson is a large thirtysomething man with a bushy blond beard and, on this day, a pair of designer slip-on shoes with a big picture of a water tower on them. He’s a professional gambler turned crypto investor and he is confident in his idea for Crawley.

The club will soon offer for sale a number of digital tokens that will give purchasers the opportunity to watch and take part in decision-making. This, Johnson says, will go well beyond the offerings made by companies such as Socios who run schemes for a number of leading European teams where tokens allow users to vote in polls on club matters."

I'm not certain that they actually did this, or if it's still going on. 

Edited by ExiledAjax
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Lrrr

Lrrr

Posted
Posted

They put their whole team up for sale on a website called TransferRoom and then when it came out publicly tried claiming they did it by accident when in reality you’d have to put them up for sale one by one 

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Lanterne Rouge

Lanterne Rouge

Posted
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Posted
1 minute ago, ExiledAjax said:

This is from the summer. 

https://www.google.com/amp/s/amp.theguardian.com/football/2022/jun/09/web3-in-league-two-crawley-town-and-the-crypto-bros

“A lot of the world whether it be football, sport crypto or whatever is living a more digitally native life,” says Johnson. “We think there’s an opportunity for the remote fan to attach themselves to a club as a result. We want to offer unprecedented access to local as well as remote fans and technology gives us that ability to do it in a way that hasn’t been done before. That’s the macro vision.”

Johnson is a large thirtysomething man with a bushy blond beard and, on this day, a pair of designer slip-on shoes with a big picture of a water tower on them. He’s a professional gambler turned crypto investor and he is confident in his idea for Crawley.

The club will soon offer for sale a number of digital tokens that will give purchasers the opportunity to watch and take part in decision-making. This, Johnson says, will go well beyond the offerings made by companies such as Socios who run schemes for a number of leading European teams where tokens allow users to vote in polls on club matters."

 

Gulp! If ever proof of `be careful what you wish for` this is probably it.

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ExiledAjax

ExiledAjax

Posted
Posted
1 minute ago, Lanterne Rouge said:

Gulp! If ever proof of `be careful what you wish for` this is probably it.

So it looks like they did launch the token, and about 5,000 have been sold. Some people could have bought more than one though. Currently the "value" is about US$50, but the main thing was that holding a token gave you the ability/right to vote on stuff that the owners let you vote on. 

From what's happening at the club now, it's likely safe to assume that this has gone poorly.

A little more here, again from summer.

The catch with this sort of thing is normally that you don't buy the token with cash. Generally you have to buy a certain crypto currency, of which the token issuing company/people will own a lot of, and then you have to use that crypto currency to buy the token. In this way the sale of the tokens inflates the value of that crypto currency, and so increases the wealth of the owners. It's not dissimilar to old pump and dump share scams that were popular back in the 90s (see Wolf of Wall Street).

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BS2 Red

BS2 Red

Posted
Posted
1 hour ago, ExiledAjax said:

Does this go in the file of "Weird statements from lower league chairmen"? I think probably yes it does.

Published 6 hours ago as a follow up to the main story that @Lanterne Rouge alludes to.

Screenshot_20230102-153230.png

Is Preston yet another member of Gary's family? 

ExiledAjax

ExiledAjax

Posted
Posted

https://www.theguardian.com/football/2023/jan/05/crypto-chaos-how-crawley-crumbled-under-owners-reckless-leadership

Whenever you feel like ranting about SL or our CEO just remember that there are clubs out there who have it much worse.

Some highlights form the above article:

  • "One financial incentive for Telford [the new signing from League Two Newport] is to win the ball back in the opposition half, a bonus that is unusual in professional football."
  • "Then there was the case of trying to sign a centre-back this summer who was offered a bonus per header as part of a proposed contract. Considering the stats show the player in question makes between 20 and 30 a game, it would have been a lucrative deal in the fourth tier but he opted to go elsewhere."
  • "Three YouTubers from Sidemen FC, who have a partnership with Wagmi [Crawley Town's parent company], were granted trials at the club. “All three players will be further evaluated by coaches and staff during the session for possible inclusion in the team for the Red Devils’ upcoming FA Cup match against Accrington Stanley on 5 November,” Crawley said. None of them were signed."
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Northern Red

Northern Red

Posted
Posted
9 minutes ago, ExiledAjax said:

https://www.theguardian.com/football/2023/jan/05/crypto-chaos-how-crawley-crumbled-under-owners-reckless-leadership

Whenever you feel like ranting about SL or our CEO just remember that there are clubs out there who have it much worse.

Some highlights form the above article:

  • "One financial incentive for Telford [the new signing from League Two Newport] is to win the ball back in the opposition half, a bonus that is unusual in professional football."
  • "Then there was the case of trying to sign a centre-back this summer who was offered a bonus per header as part of a proposed contract. Considering the stats show the player in question makes between 20 and 30 a game, it would have been a lucrative deal in the fourth tier but he opted to go elsewhere."
  • "Three YouTubers from Sidemen FC, who have a partnership with Wagmi [Crawley Town's parent company], were granted trials at the club. “All three players will be further evaluated by coaches and staff during the session for possible inclusion in the team for the Red Devils’ upcoming FA Cup match against Accrington Stanley on 5 November,” Crawley said. None of them were signed."

"...Johnson discussed how Etherington was a good fit with Wagmi because of his “appetite for risk” that he rather crassly associated with the former Stoke winger’s historic gambling problems. Etherington was then deemed too much of a risk and sacked after only three games in charge...."

Blimey.

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Eddie Hitler

Eddie Hitler

Posted
Posted

Reading that made me wonder what happened to MyFootballClub.

They bought a stake in Ebsbfleet in 2008 and sold it five years later after significant decline in membership; I'd say moderately successful given that people were paying an annual fee rather than a big payment up front which would have meant losing their money even though it's over now.

There are multiple examples of similar ventures at the foot of the page; usually associated with buying and running a particular club whereas MyFootballClub was formed with teh intention of then finding one.

https://en.wikipedia.org/wiki/MyFootballClub

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