More than 28,000 sports fans from across the world yesterday formally completed the takeover of a lowly English soccer club, gaining power over everything from team selection to transfers.
The fans each paid a modest £35 ($69.35) annual fee to sign up to myfootballclub.co.uk (MyFC), which then spent months scouring the leagues to find a suitable club to buy for the experiment.
Shareholders of Ebbsfleet United, who play in the fifth tier of English soccer, met on Monday to agree the takeover.
MyFC spokesman Will Brooks told AFP: "It's the first community website takeover of a football club in the world and, I think, of any business ...
"Today is a big day because in less than 10 months, from no one having heard of us, we now have more than 28,000 people from all over the world who are owners of a football club."
MyFC has bought a £625,000 or 75-per-cent stake in the southeast England club through its Internet subscriptions. Some £400,000 have been paid upfront with the rest spread out over two years.
Brooks said the innovative investment could only benefit the club, which is losing about £30,000 a year.
