Libereum, a Dutch cryptocurrency company has announced that they are acquiring Elche CF, a Spanish football club which is based in Alicante, reports the news.bitcoin.com on December 29.
Libereum describes itself as a company which is “primarily aimed at making cryptocurrency widely accessible to the average person.” They have provided an initial payment of €4.3 million ($4.9 million) for the deal. This marks one of the substantial steps for cryptocurrency into the field of sports.
This acquisition is part of a plan as Libereum is looking to bring the club back up to the premier division and launch their native cryptocurrency, the liber.
Cem Kumlar, the founder of Libereum said in a statement “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 [….] 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.”
The move is seen as a plan of Libereum to generate demand for their coin. The company has some ambitious goals in their roadmap as they are thinking of bringing transfer of deals, ticket sales, stadium catering, merchandise sales by integrating cryptocurrency.
Apart from Libereum, last August, investment platform Etoro launched a partnership with seven English League football clubs, paying for the deals using bitcoin.
Guy Hirsch, U.S. managing director of Etoro said they were “looking to integrate cryptocurrencies into mainstream football in the near future.” adding “Educating the masses on crypto assets will ultimately increase public participation in the market, improving the rate of adoption and providing an incentive for merchants and vendors to begin to accept cryptocurrencies as payment.”
In another instance, Gibraltar United decided to provide a salary with cryptocurrencies to its players and Wolverhampton Wanderers, an English Premier League Club announced in the start of the season the partnership with Coin Deal, a cryptocurrency exchange.