Dutch crypto firm Libereum adds a sporty touch through an acquisition

Libereum, a Dutch cryptocurrency company, announced through a press release dated 26 December 2018, the acquisition of Spanish football club Elche CF. 

Libereum stated the deal was for a whopping 4.9 million U.S. dollars. This amount was only for the initial down payment.

According to the published report, the venture’s ambitious plan is to make its ERC20 token, Liber, a mandatory form of payment in the stadiums of those clubs it owns. Libereum stated that it secured its purchase of the Segunda Division (second division) A club.

Libereum had also intended to purchase Dutch club Roda JC Kerkrade, but that deal did not go through. Earlier Elche CF was demoted from Spain’s premier division due to unpaid tax debts and economic mismanagement.

Libereum’s official statement highlighted the company’s aspiration to restore the club to its lofty position through its Liber digital coins,

“We want the [Libereum token] to gradually become part of the financial policy in and around the club, so that everything – on the term – can be paid simply, in an easily accessible way, with Liber. Think of sponsor and transfer deals to ticket sales, merchandising items and catering in the stadium.”

Libereum’s Liber is an Ethereum-based cryptocurrency. The company claimed that it “will become one of the top 10 cryptocurrencies within the first twelve months after we have gained ownership of the first club.”

Libereum hopes to elevate Spanish football club’s fallen image to a premium position by leveraging its cryptocurrency.

Commenting on the acquisition, Cem Kumlar, the founder of Libereum said, “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…”.

Kumlar further added, “The purpose of this takeover is twofold: on the one hand, we want to bring the club back to the Primera Divison. This requires financial injections. And that is where our digital coin comes in. We want the coin (token) to gradually become part of the financial policy in and around the club, so that everything in due course can be paid simply, in an easily accessible way, with Liber.”

Libereum has also hinted this week towards a secretive deal to purchase another football club for an estimated worth of 80 million Euros, although the details of this are not officially available on the company’s site.

Football being a widespread form of recreation, crypto integration will make it more enjoyable. When crypto tokens slowly enter into domestic transactions, we will appreciate the cashless benefits it has to offer.