London Football Exchange Group, a cryptocurrency firm which raised AU$70 million in Initial Coin Offerings in 2017, has just acquired one of the largest Football teams in Australia, the Perth Glory FC. The deal is subject to approval by Football Federation Australia but seems likely to go ahead.
LFE now owns a majority stake in Perth Glory Football Club, who currently ranks third in the Australian A-League, behind the Melbourne Demons and Sydney’s Bling FC. When they made the announcement, however, the firm was quick to assure fans that there will be no significant changes in how the club operates or functions and the day-to-day management structure will remain as it is.
LFE offers a blockchain-based marketplace that allows fans to access merchandise and ticketing and it will also act as a way for Football clubs to raise capital amidst a market that is becoming increasingly more competitive as big teams monopolise certain players thanks to exceptional television deals.
Tony Sage, Chairman for the LFE Football Group, stated that his passion for the Perth Glory FC is well-known and he’s well aware of fans’ loyalty. He said that this is why he’s proud to say that his company is designed and staffed by fans for fans and he’s a loyal member of a team that puts PGFC firmly in the cornerstone of the project.
Sage said that he’s really looking forward to the next few years and said plans are already in motion to make the company the dominant force as far as Footballing standards are concerned but they also want to focus on youth development.
| Rank | Site | Bonus | Bet | |||
|---|---|---|---|---|---|---|
| 1 |  | Ladbrokes |  | 5/5 | 100% Match up to $250 | Bet now Review |
| 2 |  | Palmerbet | | 4.9/5 | 100% Match | Bet now Review |
| 3 |  | Picklebet | | 4.8/5 | Login to see promotions | Bet now Review |
More About Cameron Hollands
After working part time in one of Australia’s finest casinos to fund his journalism studies, Cameron Hollands discovered a passion for sports betting. A few years and many successful bets later, he is now putting his considerable experience to good use, and is a regular contributor for australiansportsbetting.net.
Cameron’s expert advice, insight into the sporting world and straightforward reporting style has earned him many fans, and he enjoys sharing his expertise with fellow punters.
You May Also Like:
Tommy Watson Resigns As Lambert Coach
Lambert football coach Tommy Watson has announced his decision to step down after only two seasons coaching the Longhorns. Watson also said he plans on accepting the role of head ….
Landmark Maternity Ruling For Football
Going forward, England’s professional female football players will enjoy maternity cover as well as long-term sickness insurance as part of their contracts. The landmark decision was hailed a massive step ….
FIFA Confirms Investigation Into Gabon Abuse
World governing body FIFA has now confirmed the official opening of an investigation following allegations of sexual abuse in Gabonese football. The investigation will be conducted by FIFA’s independent ethics ….
Norwich’s Dan Barden Diagnosed With Cancer
Norwich goalie Dan Barden has been diagnosed with testicular cancer. According to a statement issued by Norwich City this week, the 20-year-old will be closely monitored during his entire time ….
Olyroos Sanctioned For Bad Behaviour
Australia’s Olympic Football contingency has been admonished for poor behaviour put on during a flight back home from the Tokyo Olympics. While Football Australia has reportedly imposed sanctions on the ….