A John Terry-led consortium called True Blue want to buy a 10% stake in Chelsea and then sell 'fan tokens' to supporters in exchange for voting rights
A John Terry-led consortium called True Blue want to buy a 10% stake in Chelsea and then sell ‘fan tokens’ to supporters in exchange for voting rights.
Terry has been involved in a NFT (non-fungible token) range called Ape Kids Club recently, and now wants to integrates blockchain technology into the club he spent two decades at as a player.
Chelsea is currently in the process of being sold after owner Roman Abramovich was added to the list of individuals sanctioned by the UK government – and subsequently the European Union – for having close ties to Vladimir Putin.
The deadline for interested parties to submit their bids is today and according to Goal, True Blue could be ready to attach themselves to one of the larger consortiums. Although the group is headed up by Terry, women’s football star Claire Rafferty is involved too.
The money for True Blue comes from various sources including former Conservative party donor David Mellor and investment banker Harley Kisberg.
What makes the group different is the fan token aspect of their proposal. Under their plans supporters would be able to buy the tokens in exchange for voting rights on club issues.
Even more intriguing is the possibility of current players being awarded tokens for their displays on their pitch. The report notes that True Blue intend to offer Kai Havertz a number of tokens for scoring the winning goal in last season’s Champions League final, while club captain Cesar Azpilicueta would also be rewarded.
The group does not have enough capital to buy the club outright and would need to attach themselves to one of the other bidders. Currently the Boehly-Goldstein-Wyss consortium, Ricketts family and Saudi Media Group are the favourites to complete a sale.