American Cryptocurrency Investors Inject $4.5m into Real Bedford Football Club

Image source, Getty Images

Image caption, Gemini founders Cameron and Tyler Winklevoss have become co-owners in Real BedfordArticle information

• Author, Danny Fullbrook
• Role, BBC News, Bedfordshire

• 3 hours ago

The owner of a non-league football club has said he had to explain the English game to a pair of American cryptocurrency investors who have injected $4.5m (about £3.6m) into the club.

Podcaster Peter McCormack met Gemini founders Cameron and Tyler Winklevoss in 2021 and told them about his plan to buy Real Bedford FC, his local team.

He recalled: “Tyler and Cameron didn’t know the difference between the Football League and the Premier League

“Tyler’s first question back was, ‘How do you get a team into the Premier League?’ I went away and came up with a plan and presented it back to them after two years of running the club.”

Image caption, Peter McCormack bought Bedford FC in 2021 and renamed it Real Bedford

Mr McCormack has spoken of his plan to take Real Bedford from non-league to the Premier League.

He said the new investment would help it move up through the leagues and build a new ground.

“I explained [that] to start going up through the higher leagues now, we have some infrastructure requirements, and [I] asked if they wanted to become co-owners, and they said ‘Yes’.

“Our current ground can probably only take us up three more divisions and then we have to think about a ground for the National League.

“If I require more investment for ground and infrastructure, they’ll be willing to listen to the proposal.”

Mr McCormack compared the club to Wrexham, owned by Hollywood actors Ryan Reynolds and Rob McElhenney, and how the investment could have a positive effect on the community.

He told BBC Three Counties Radio: “Once you build a successful club, you can support the community. It has this symbiotic effect. If you support the community then they support the local team and come watch you play and help grow your crowds.”

He wrote: “We believe that Real Bedford – powered by Bitcoin and Peter’s leadership – has the ability to defy the odds, upset the establishment and dethrone incumbents.

“We love underdog stories that have the ability to literally change the game.”

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2024-04-16 05:47:16
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