Back of the Net: Cryptocurrency Stands to Win Big in the Football Sector

In January 2018, English Premier League football club Arsenal FC partnered with CashBet to launch its new cryptocurrency, CashBet Coin.

"Our vision is to allow football clubs to take advantage of the token funding economy for their financing needs by providing them with a tokenized financing infrastructure, which involves token-design and issuance services."

If properly implemented, this could bring a fresh and honest approach to the valuation of football clubs, which became a sensitive topic from the early 2000s when oligarchs from all over the world developed an interest in acquiring the football clubs and running them as the enterprises.

After the Glazer family completed a controversial takeover bid for Manchester United Football Club in 2005, a fan campaign called "Love United Hate Glazer" began.

Due to the truly international nature of football fandom, even small, obscure clubs can enjoy support from passionate groups around the world.

Blockchain has already made its first notable impact on football club ownership.

Italian Serie C club Rimini FC 1912 became the first club in the history of the game to be acquired through cryptocurrency.

It's clear that cryptocurrency is set to make a big impact on the way that big business and club ownership transactions are carried out in football.

"At present, most sports venues do not know exactly who is coming into the stadium. At Premier League football clubs, it is not unknown for people to let friends use their season tickets when they cannot get to games."

"The football clubs may know a ticket was used, but not always by whom. So they will never be able to target any further club marketing toward these spectators. You will have less fan engagement. Most clubs and stadiums have this issue."If you put your ticketing system onto the blockchain, you can verify if people attended or who they gave their tickets to.