The American group Counterpointe Sports Group (CSG), owner of the basketball club in the city of Pau for several months, has decided to sell around 40% of the club’s capital in the form of tokens.
Cryptocurrencies are interfering more and more in the world of sport. In the wake of Paris Saint-Germain, which launched a virtual currency with the Socios.com platform to allow supporters to participate in the life of the club, Élan Béarnais Pau-Lacq-Orthez has decided to go even further .
Indeed, the American group Counterpointe Sports Group (CSG), owner of the basketball club of the city of Pau for several months, has decided to sell in the form of tokens approximately 40% of the capital of the club, according to Le Figaro. The Financial Markets Authority (AMF) would have given the green light to this operation.
A seat on the board of directors
In total, 20 million tokens will be offered for sale. Half, reserved for French buyers for a fortnight, will be sold from April 26. To attract buyers, 500 lots of 500 tokens will be offered at a price of €450 per lot, i.e. the price of a subscription for one season. Once purchased, the tokens must be kept for a minimum of one year by their owners after the official closing of the sale, before they can be resold on an exchange platform.
In addition to receiving income, these new kind of shareholders will also be present on the club’s board of directors, with a seat reserved for a representative they have elected. The latter will have the right to vote to make the voice of the owners of the tokens heard concerning the decisions of the club.