December 26, 2018 – Dutch crypto company Libereum has become the owner of the Spanish football club Elche CF. The acquisition of the club from the Segunda División A is a crucial step towards connecting the decentralized digital currency (Liber) with the most popular sport in the world: football.
The company is expecting to create high demand for digital (crypto) money for a wide audience. Part of the conditions package was a Bank guarantee of EUR 4.3 million as the 1st downpayment. In order to reduce possible acquisition risks to an acceptable level, Libereum had the organization of Elche CF thoroughly evaluated by completing a due diligence. The audit results were positive, after which the acquisition was effected.
Elche Club de Fútbol, S.A.D. (Valencian: Elx Club de Futbol, S.A.D.) is a traditional Spanish football club from (Elche) Elx, the third largest city in the Valencia region. The club was founded in 1923, after which it played against Barcelona and Real Madrid for 21 seasons in the Primera División.
The acquisition of Elche CF is well thought-out and well-considered. The club has, thanks in particular to its loyal fans and the beautiful Estadio Manuel Martínez Valero, which offers room for more than 35,000 spectators, a great appearance. Recently the match between Spain and Croatia for the nations cup was played in the stadium.
Token to Become Part of the Financial Policy
Libereum sees such potential in Elche CF that it wants to bring the club over the next 2-3 seasons back to the Primera Division. To achieve this, Libereum will provide Elche CF with the necessary (financial) impulses.
“The purchase of Elche CF, a beautiful football club that shares our vision of a cryptocurrency future and is willing to actively communicate it to its supporters, is fantastic news,”
says Cem Kumlar, founder of Libereum and adds,
“The purpose of this takeover is twofold: on the one hand, we want to bring back the club to the Primera Divison. This requires financial injections. And that is where our digital coin comes in. We want the coin (token) to gradually become part of the financial policy in and around the club, so that everything – on the term – can be paid simply, in an easily accessible way, with Liber.”
Libereum is a Dutch crypto company, primarily aimed at making cryptocurrency widely accessible to the average person. By investing in football clubs, the company has the ambition of generating unlimited demand for the Liber and within 12 months of purchasing the first football club to become one of the top 10 major crypto coins. Libereum works together with reputable blockchain experts and organizations specialized in crypto-payment networks and with specialists from the football industry.