Democracy at it's finest I would say. The project My Football Club has the goal to raise enough money to buy a real world football club in the United Kingdom. Every member pays an annual fee of £35 which in turn gives the member an equal share in the football club. All important management decisions such as buying and scouting new players and team selection are democratically decided by counting all member votes with each member having exactly one vote.
The project has more than 53000 members already who are currently deciding on the club that they would like to buy. The most popular club will be bought if it meets the requirements which are: 51% or more of the football club shares can be bought, it has no or a manageable debt, potential to reach the Premiership and the size of the stadium and public transport situation.
The idea is intriguing and it really could work. A social experiment so to speak of. I especially like the idea that the members decide where the money will be spend. All profits will be reinvested and it will be nice to see how that money is spend. Owners not only decide about new players but also on Youth Policy, Stadium and Infrastructure.
What I don't like is the fact that it is possible to join at any time giving you the same voting power as someone who was there from day one on. It is a risk to invest the money at the moment, it might be not a risk at all in five years from now on. Some way to give members of the first hour a special position would have been nice. (hall of fame or something perhaps)
I also think that the whole project looks a bit like scam as well. While it surely is not with all the media coverage it got it remains hidden from the members who the initiators of the project are.
Update: It seems that a club Ebbsfleet United has been found and that it is now under control of My Football Club. You can read more about that on the official page.
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Ghacks is a technology news blog that was founded in 2005 by Martin Brinkmann. It has since then become one of the most popular tech news sites on the Internet with five authors and regular contributions from freelance writers.