Semipro UK football club gets $4.5M Bitcoin investment

By Ovunc Kutlu

ISTANBUL (AA) - A small semiprofessional football club in the UK received $4.5 million in Bitcoin investment, according to a statement on Friday.

Real Bedford Football Club (RBFC), which was established in 2002 as a merger, said Winklevoss Capital, the investment firm owned by crypto exchange company Gemini's founders Cameron and Tyler Winklevoss, made the investment.

The American investor twins will assume the role of the clubs’ co-owners alongside Peter McCormack, a Bedford podcaster who acquired it three years ago, according to a statement by the club.

"Since purchasing RBFC in 2021, he has made significant progress towards his goal of leading the team into the Premier League. Real Bedford won a promotion from the 10th tier to the 9th tier in their debut season and are currently at the top of the table this season, looking to achieve a back-to-back promotion from the 9th tier to the 8th tier," it said.

"Cameron, Tyler, and Peter all share a deep conviction in bitcoin and its ability to help supercharge RBFC’s quest to make it into the Premier League," it added, noting that Gemini announced its sponsorship of the club in 2022.

The co-owners aim to establish a Bitcoin treasury to secure the club's long-term ambitions: develop a new training center, launch a football academy to nurture local talent, and continue to support girls and youth football.

"Since our first conversation more than two years ago, Peter has proven he knows how to build a successful club and we’re excited to work alongside him as co-owners," Tyler Winklevoss said in the statement.

Cameron Winklevoss said McCormack's ability to translate vision into action is the reason why the brothers believe in the project, and said he is the right leader to make this dream a reality.

"This has been a great few years for the club as we hit all of our growth goals and supported the community in a sustainable way," McCormack said. "The demands of a fast-growing club are significant, and the backing from Tyler and Cameron will allow us to continue investing in Bedford and the local community."