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 €4.3 million as first downpayment. In order to reduce possible acquisition risks to an acceptable level, Libereum had the organisation of Elche CF thoroughly evaluated by completing 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 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.
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) resources.
“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. “The team has been working very hard to achieve this and I would like to express my thanks to all those who have contributed to this impressive and intensive process.
I would like to stress that Libereum, despite its majority interest, has no intention of changing the football organisation of Elche CF.
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.”