Businessweek Archives

Power of the Crowd to...Buy a Soccer Team


Influx Insights points out an amazing example of the purchasing power of the crowd. A group of 50,000 soccer fans have ponied up $70 each over the Internet at MyFootballClub.com.uk to buy a soccer team. Syndicates aren’t anything new, really. For instance, racehorses are often owned by a syndicate of owners. But what’s clever here is the use of the Internet to pull together a buying group.

The broader point, as Ed Cotton says, is what this represents for the power of the crowd to create brands that they own. Record labels, movie studios, publications are getting disintermediated. Why not other kinds of companies? What will be interesting to see is how any buying club navigates the management of the company that they own. How will the ultimate democratization among a group of owners who have all the faults and blessings of humans—the hubris, the intelligence—play out in trading players or hiring managers?


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