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Monday, 21 January 2008 |
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Crowd Funding Ever want to own something you couldn't afford? How about something that costs $25,000,000 (that's twenty five million dollars) to operate every year. That's the average cost of a race team in the NASCAR world of racing. MyStockCar.com's aim is to use the power of a lot of people putting in a little bit of money to own and have a say in the operation of a race team. Fans can currently register for free with the longer term commitment of paying the annual $50 USD membership fee once 300,000 members have joined. In the UK, MyFootballClub, which launced over six months ago on the same premise, has realized their membership goals and are in discussions to buy a Football (Soccer) club right now. Once the purchase of a club has been finalized the members/owners will have an active participation in the running of the club. MyStockCar.com has similar goals for it's members. Every major decision will be put to the members who will discuss and vote online from the available options. The option with a majority of votes will be implemented by the Board of Directors. The Board will also have the responsibility of communicating the implementation plan back to the members and keeping everyone up to date with what's happening. Every member will have an equal share in the club and cannot purchase more than one share. Next up: crowd-funded baseball, hockey, basketball and (American) football teams? Or get creative and find another project that could benefit from crowd clout . Various revenue models are possible. |
