Skip to main content

Real Bedford head for Premier League?

Spartan South Midlands Division One outfit Bedford FC have been bought by a local bitcoin podcaster Peter McCormack and he has announced his ambition to take them all the way from Step 6 to the Premier League.

Unfortunately the first response has been for manager Jason Goldman and his coaching team to quit.  He said: 'We wish the new owner all the best in his quest to bring Premier League football to Bedford.'

McCormack tried to buy Bedford Town two steps higher up the pyramid, but was rebuffed.  Bedford FC was formed in 2002 from a merger of Bedford United and US Valerio.

McCormack says that he intends to use his contacts throughout the cryptocurrency world to generate the funding that would allow the McMullen Park outfit to climb the ten tiers to the top flight.  He aims to change the club's name to Real Bedford at the end of the season.

He told BBC local radio: 'I always thought Bedford as a town could support a league club.  We're a population of 134,000 people.'   That overlooks the fact that many of these people may support Premier League clubs in London or back the more successful Bedford Town.  One local reaction has been to call the takeover 'an absolute disaster'.

McCormack claims to already have £250,000 of sponsorship, a huge sum for Step 6 of the non-league pyramid: https://www.bedfordindependent.co.uk/bitcoin-businessman-peter-mccormack-sets-sights-on-premier-league-after-bedford-fc-purchase/

Ambitious owners with dreams of reaching the Premier League or even the Football League crop up wth monotonous regularity.   It's harder than they think.  Remember Billericay Town?

Labels:

Comments

Post a Comment

Popular posts from this blog

Threat of financial calamity removed from Baggies

West Bromwich Albion had effectively been in decline ever since the club was sold to a Chinese consortium in August 2016, paying a figure north of £200m to buy former owner Jeremy Peace’s stake. Controlling shareholder Guochuan Lai’s ownership was fairly disastrous for the club, but his unloved tenure finally came to an end after Bilkul Football WBA, a company ultimately owned by Florida-based entrepreneur Shilen Patel and his father Dr Kiran Patel, acquired an 87.8% shareholding in West Bromwich Albion Group Limited, the parent company of West Bromwich Albion Football Club. This change in ownership was urgently required, due to the numerous financial problems facing West Brom, including growing high-interest debt and serious cash flow concerns, following years of no investment from the former owner. Indeed, West Brom’s auditors had already rung the alarm bell in the 2021/22 accounts when they cast doubt on the club’s ability to continue as a going concern without making player s...
1 comment
Read more

Spurs to sell minority stake

Tottenham Hotspur is in talks to sell a minority stake in a deal that could value it at up to £3.75 billion and pave the way for Joe Lewis and his family to sever ties with the Premier League football club. Tottenham chairman Daniel Levy is seeking an investment that values the club at between £3.5 billion and £3.75 billion, including debt. While the terms of any deal have not been finalised, City sources expect Spurs to sell about 10 per cent. The club is being advised by bankers from Rothschild on the sale. Tottenham wants to raise fresh capital for new player signings and to help fund the development of an academy for its women’s team, as well as a 30-storey hotel next to its north London stadium. The financier Amanda Staveley, who brokered the deal for Saudi Arabia’s Public Investment Fund to take over Newcastle United, is understood to be among the parties to have expressed an interest in Tottenham. Staveley’s fund, PCP Capital Partners, has raised about £500 million to ...
Post a Comment
Read more

Millwall punch above their weight

Millwall’s season was overshadowed by the tragic death of owner John Berylson following a car accident. The American had been an exemplary owner, beloved by the fans for his leadership, passion and generosity. Millwall’s finances had been pretty good during his tenure, which we shall explore by looking at the most recent accounts from the 2022/23 season, when the club narrowly missed out on a place in the play-offs after finishing 8th. Millwall’s pre-tax loss slightly reduced from £12.6m to £12.2m, as revenue rose £0.8m (4%) from £18.6m to a club record £19.4m and player sales improved from a £0.1m loss to £2.5m profit. However, other operating income dropped from by £1.1m from £1.3m to £0.2m, while operating expenses increased £1.7m (5%) from £31.6m to £33.3m. The main driver of the revenue increase was broadcasting, which rose £1.1m (12%) from £9.1m to £10.2m, though match day was also up £0.4m (7%) from £5.8m to £6.2m. In contrast, commercial fell £0.7m (19%) from £3.7m to £3....
Post a Comment
Read more