Crypto Company Buys Football Club for $4.9 million

Libereum, Netherlands-based crypto company is now the proud owner of Spanish football club Elche CF. The acquisition happened at a whopping $4.9 million. According to Libereum’s press release, the latest deal is a crucial step towards connecting Liber with football, which is considered as the most popular sport in the world. The company is now ready to accommodate the demand of a wide audience.

“Part of the conditions package was a Bank guarantee of EUR 4.3 million as a first down payment. In order to reduce possible acquisition risks to an acceptable level, Libereum had the organization of Elche CF thoroughly evaluated by completing due diligence,” said the press release.

Moreover, the crypto company aspires to bring the football club back to the Primera Division. Libereum is ready to meet all the financial needs. The press release cited Cem Kumlar, the founder of Libereum saying “the purchase of Elche CF shares our vision of a cryptocurrency future and is willing to communicate it to its supporters actively. The team has been working very hard to achieve this.” Kumlar said through Elche CF, “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 working towards becoming one of the top 10 major crypto coins.

The Elche CF is based in the Province of Alicante in the Valencian Community. It was founded in 1923. As per Wikipedia, Elche became the first team ever in the history of the Spanish Primera Division being relegated to Segunda because of the new regulations.