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Libereum Acquires Spanish Football Club Elche CF

A Dutch crypto company, Libereum, has become the owner of the Spanish football club, Elche CF, a statement from the firm has said.

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 and part of the conditions package was a Bank guarantee of €4.3 million as first down payment. In order to reduce possible acquisition risks to an acceptable level, Libereum had the organisation of Elche CF thoroughly evaluated by completing a due diligence. The audit results were positive, after which the acquisition was effected.

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Elche Club de Fútbol, 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 acquisition of Elche CF is well thought-out and well-considered, the company said, noting that the club has 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.

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Libereum said it sees such potential in Elche CF that it wants to bring the club over the next 2-3 seasons back to the Primera Division.

In order to achieve this, Libereum plans to provide Elche CF with the necessary (financial) impulses. “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.”

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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