One of the oldest football (soccer for us Americans) clubs is investigating the possibility of issuing an Initial Coin Offering (ICO) to raise money for their club.
Sporting Clube de Portugal (SCP) has its origins in 1902 having been founded by three young men: Francisco da Ponte, Horta Gavazzo and his brother José Maria. The club is currently based in Lisbon and is one of the Três Grandes (Big Three) clubs in Portugal, along with rivals S.L. Benfica and FC Porto.
While doing research on the Club, I found their theme song, A Marcha do Sporting, which is pretty cool. A lady sings the song, and does a wonderful job in my opinion.
According to an article published by coindoo.com, the Vice-President of the club, Dinheiro Vivo, stated...
We are looking closely at an ICO. We’re having meetings about it. There is a great value potential in the Sporting brand.
The Club has issued bonds in the past, but have not met their goals. At present, SCP is offering 5.25% gross annual interest rate to raise $ 30 million (EUR) ($34.2 million USD).
I wonder if more sports team are going to get in on the crypto game? We will have to see. If you would like to read the original article, you may read it here:
A Portuguese football Club is Looking to Issue an ICO
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