Could Blockchain Improve Football Clubs Financial Stability?

Just in the last couple days, the football industry has come across a shocking revelation: A.C Milan is potentially going under.

According to reports, the club is in real danger of being banned from UEFA due to the breaching of the financial fair play rule. With £200 million plus interest in the hole (due on October,) the club will potentially go through bankruptcy protection procedures.

Which raises the question: How can a highly successful club, with decades of history and success, be capable of such wrong doings and mismanagement? A.C Milan is not the only club to be in the red. In fact, an approximate 80% of clubs worldwide are in financial difficulties and in huge debt.

United Fans is a blockchain startup for the football industry looking to bring a solution to the budget shortages. It’s an interesting coincidence that they recently signed with former Milan footballer and a FIFA World Cup holder.  Gianluca Zambrotta.

Zambrotta said during the signing event:

“I feel it is the first time that a technology like this can really make a difference for so many clubs worldwide. I think I know in which clubs we need to start implementing it.”

Through the United Fans platform, football fans will be able to decide on issues such as a player transfer or a coach recruitment, while backing that decision financially. Team managements will be able to improve decision making, using crowd wisdom.

It’s a perfect merge of fan unity and a resource of fresh funds. If fans feel like their voices matter, then they will take the necessary steps to help keep the club’s finances in the green.

Moreover, the use of smart contracts will ensure that the money raised (crowdfunding feature) is used solely for the purpose it was intended, and if a voted decision is not executed by management, then all funds are returned to their respective holders.

Additional features in the platform include the purchase of cheaper game tickets & merchandise, and the ability for fans to reward football players after a game. And here is the best part: their token that will power the platform is called Goal Coin!

With Gianluca Zambrotta added the team and Italy being one of the top countries for the use of the United Fans platform, there is great potential in helping disrupt football in Italy but also European clubs overall. Fans need to be involved with the clubs they dearly love, and management needs to make ends meet. The two parties will work hand in hand.