10th tier club Bedford FC are to change their name, crest, colours after completing a takeover and target a place in the Premier League.
Bedford FC, established in 2002 as a merger of Bedford United and US Valerio, are currently members of the Spartan South Midlands League Division One and play at McMullen Park.
This week saw Bedford FC become the first Bitcoin football club after a takeover by Bitcoin podcast/investor Peter McCormack. The club’s finances will operate on a Bitcoin standard, with profits invested in the currency.
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The club confirmed the news via Twitter, saying: “We are pleased to announce that we have now completed the takeover of Bedford FC with Peter McCormack becoming Chairman this evening.
“The transition has been a lengthy process to ensure that regulatory, legal and financial procedures have been undertaken with due care.
“We have been very public with our ambition of bringing league football to Bedford as well as investing in grassroots football. As such, we have been working closely with our accountants and lawyers to ensure we have the right structure in place.
“We want to thank the Beds FA for supporting this transition and the Bedford FC committee for everything they have done for football in Bedford.
“Once the season is complete, we will transition the club’s name to Real Bedford.
“Bedford as a town should have league football. Our neighbours Bedford Town (currently top of the 8th tier Southern League Division One Central table) are giving it a great shot and they have our full support.
“Our hope is to follow them up through the leagues and bring new opportunities to the town.
“We have a busy few months ahead preparing for our goal of promotion next season.
“Finally, we want to say a massive thanks to all the local fans, people of Bedford, new international supporters and our sponsors for supporting our vision.”
A Twitter thread was posted by Peter McCormack last year and it reads:
NEWS: I can announce that I have agreed on a deal to acquire Bedford FC from their current chairman Lui. There is a lot to cover and I will do my best in this thread. If you want to follow:
– Twitter: @realbedford
– Website: https://realbedford.com
2/ This acquisition is part of a childhood dream to own a local Bedford club. We don’t have a big club where I live and I’ve always wanted to bring league football to the town. I am taking over as Chairman but Lui is going to stay on until the end of the season and support me.
3/ So what is the plan? To get our club into the Premier League, 9 promotions…
…I am a bitcoiner, we aim big. If we can separate money and state, we can get a football club into the Premier League.
4/ I expect to be laughed at and told we can’t. I expect people will tell me stories of how other people have tried this and failed. I don’t care, we can do this and I will put everything I have into it.
We have so much leverage…
5/ It is all about winning games, to win games you need the best players and managers. To afford the best players and managers you need to be commercially successful.
I will establish our club as the #bitcoin club, a team that operates on a #bitcoin standard.
6/ There are two specific phases to this:
– Local: getting the team to the National League
– National: getting the team into the Premier League
Both phases require a different strategy, but ultimately we need to be commercially successful.
7/ The following chart is a guide as to the range of running costs per team, per league.
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.
8/ 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.
9/ We have so much leverage.
An army of 150m #bitcoin holders and companies can be part of this journey.
I can also leverage my platform and audience.
10/ The second phase is attacking the higher divisions, specifically the Championship & the Premier League. Here we need capital as well as a sustainable commercial model.
I will be raising funds to hold in a #bitcoin treasury. If #bitcoin does its things…
11/ Let’s not let FTX, http://Crypto.com and Ryan Reynolds have all the fun…
…3.5bn people watch the Premier League alone, we can use this to communicate a #bitcoin standard.
12/ Right now I am pitching sponsors and preparing to sell merchandise and jerseys from January.
The design here is a mockup for the club jerseys. I’ll be tapping you all up to buy them
13/ So… if you want to get behind this, here is what you can do:
– Follow @realbedford
– Sign up for the newsletter at https://realbedford.com
If you are interested in being an investor or sponsor then email hello@realbedford.com.
14/ Thank you to everyone who has supported me so far. I couldn’t be more excited about this.
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