Libereum Announces Deal for first Football Club, selects ICODashboard for ICO platform
Who hasn’t wanted to own their own sports team or football club? Well now you can become an owner of one (and potentially many more) via an ICO. Libereum has come to terms to acquire Elche FC, a football club that plays in the second division in Spain. The company is also planning to buy Dutch second division club Roda JC Kerkrade as well.
Libereum has raised over $4m in their private round and their ICO gets underway officially this Friday, August 31. The ICO will be conducted on the ICODashboard platform. The company is planning to use the funds that are raised during the ICO to buy additional football clubs. The projects aims to make fans stakeholders in clubs. ‘The more Libereum the fans own, the higher their stake in their club will be’.
Elche FC, founded in 1923, was relegated from the country’s first division (Primera División) as a punishment for unpaid tax debts, and the year after that was relegated again. It managed to gain promotion to La Liga 2 in the 2017-18 season.
Roda JC, founded in 1962 and affectionately known as “the coal-miner’s club”, currently plays in the country’s third division (Tweede Divisie). It was relegated from the Eredivisie in 2014 and then from the Eerste Divisie in 2018.
The Libereum strategy is interesting because you can clearly see their path to drive value to their token. You’ll need Libereum tokens to purchase tickets, food and beverages and anything else in the stadium. All the players on the team will be paid in tokens. Any player transfer fees by other clubs will also have to be done in Libereum, which means those clubs will have to buy tokens if they want to purchase a player.
Last but not least, players who play for Libereum-owned clubs will be sold for Libereum. For example: If a club outside the Libereum network wants to buy a player, it will propose an offer of, let’s say, USD 10,000,000. If accepted, the Libereum club will allow the nonLibereum club to buy 10,000,000 worth of Libereum in exchange for the player who is about to switch clubs. – Libereum Whitepaper
A total of 100 million Libereum tokens will be minted, of which 50 million will be available during the Pre-Sale and ICO. Tokens that go unsold during the ICO will be added to the remaining stack. The first stage is the ICO pre-sale, where it will sell 10 million at a price of $0.90 each. There is a minimum purchase of 5,000 tokens ($4,500) and a maximum of 1 million ($900,000). Following this will be the ICO itself which will be split into five stages. In each stage, 8 million tokens will be sold for a higher price each time (beginning at $0.90 and ending at $3).
After the crowd sale has ended, Libereum will be made available for purchase at the regular market price through exchanges. The remaining half will be split into different parts to provide fans, sponsors, partners and everybody else with the opportunity to buy Libereum directly from us. For a better understanding of Libereum token distribution, please see the following graph.
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