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Martin Calladine Profile picture
@uglygame
May 13 • 6 tweets • 2 min read Twitter logo Read on Twitter
It looks like it's all over for The Fans Together, the crypto collective which tried to buy a stake in Sunderland last year. Its website has gone, its twitter is silent and emails are bouncing back.
@RokerReport #safc ImageImage
The group, which originally announced plans to crowd-fund the £1bn+ purchase of a Premier League club and 14 other teams globally, only managed to get as far as acquiring a 20% in a team in the Greek regionalised second tier.
Despite pitching themselves as a fan ownership group, the bid for part of Sunderland didn't involve and wasn't endorsed by Sunderland fans. It was not well received by fan groups.
Fundraising on the scale required to achieve TFT's ambitions never seemed remotely likely. And even if it had, there's no evidence that the model would've been able to successfully fund and run and a high-level professional football club.
I'm trying to contact the founder to find out why they've thrown in the towel now. Likewise, I'm waiting to hear from Episkopi, their Greek club, about where things stand with them.
It's just the latest example of where crypto was going - inevitably and unstoppably - to transform football. But didn't.

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More from @uglygame

Martin Calladine Profile picture
May 15
Prospective Morecambe FC owner, Sarbjot Johal, has been nominated for ‘Man of the Year’ at the British Sikh Awards 2023 for the achievement of… buying Morecambe. Something he has spent over six months not achieving.
1/ ImageImage
Can't help but feel this somewhat cheapens the achievements of the other nominees.

The shortlist was issued on 18th April, with the results due to be announced on 31st May. It would be very interesting to know who nominated Johal for this award.
2/ Image
Doubly so because the 20yo Johal was put in for the ‘Man of the Year’ category and not one of the other ones, like: ‘Young Achiever of the Yr’, ‘Achievements in Business’, ‘Entrepreneur of the Yr’, ‘Small Business of the Yr’, ‘One to Watch’ or ‘Business Rising Star in Sport’.
3/
Read 6 tweets
Martin Calladine Profile picture
May 10
Thread on the disastrous Fit and Proper Limbo that Morecambe find themselves in, post-relegation, with the EFL unwilling or unable to break the club's ownership logjam, leaving the club in crisis and facing an uncertain future.
1/
Morecambe have been up for sale officially for eight months, unofficially for longer. The owners are seemingly out of cash and have to sell. It's been reported that there have been a number of offers, but one, in particular, that blows the others out of the water.
2/
Problem is, in nearly six months, this buyer has not passed the EFL's Owners and Directors Test, specifically the section requiring a prospective owner satisfies the league on the "source and sufficiency" of their funds. IE that they are good for the money & the money's clean.
3/
Read 14 tweets
Martin Calladine Profile picture
Feb 23
Congrats to Forest on their new sponsor, 6686.com, a gambling firm without even a working website and which is licenced, as they always are, through Isle of Man white label shop, TGP.
#NFFC
While the holding site claims it will serve UK punters, the name 6686, which is composed of numbers traditional regarded as lucky in China.
Strangely, thus far, Forest don't seem to have announced the deal. And there doesn't seem to be much available online to shed any light on this new partner.
Read 9 tweets
Martin Calladine Profile picture
Feb 22
Bizarrely, the crypto ponzi scheme carrying the branding of Sarb Capital, the would-be owners of Morecambe FC, has reappeared. The site, offering 35% returns a week, was registered in mid-Jan and vanished late on 9th Feb, shortly after it was publicised.
sarblimited.com
Sarb Capital have failed to respond to any of the dozens of questions I've sent them since their takeover bid became public in early January, including questions about their relationship, if any, to this crypto scam.
While they have made no public comment, a statement by the Morecambe ST, following its meeting with Sarb Capital's owner last week, suggested that Sarb Capital denies any involvement in the scheme.
Read 8 tweets
Martin Calladine Profile picture
Feb 20
Something weird is going on with Everton fan tokens. Despite the price being in the doldrums, in the last month, the volume of trading increased overnight by 15x, something not repeated on any other Premier League token. More details below. Explanations welcome.
1/9
Here’s the Everton token price since 1st December. The tokens are currently worth about 45p, which is where they’ve been for about two months. (Listed in late Oct 21, they’ve been below their £2 launch price since 16/11/21.)
2/9 ImageImage
But look at the trading volumes. For most of the last sixth months, action was very slow, with daily trading volumes generally at about £3,000-£4,000. And then, on 23rd January, a huge spike in trading occurred.
3/9 ImageImageImage
Read 10 tweets
Martin Calladine Profile picture
Feb 10
Sarb Capital, the company which is seeking to buy Morecambe, had a crypto scheme offering 35% weekly interest. The website has been taken down, but analysis of the content links it to more than half-a-dozen dubious crypto schemes.
1/23
Background 1/3
As I reported in January, Sarb Capital is a year old “private equity” firm which doesn’t appear to have any money. Its owner’s claimed wealth is supposed to come from Sarb Capital and two drinks companies, one of which he claimed would be worth £1bn+ by 2025.
2/23
Background 2/3
There's little publicly available evidence that these businesses are profitable enough to have generated the millions needed to buy a football club. Which left the question of if Mr Johal really is wealthy and, if so, what the source of his wealth is.
3/23
Read 27 tweets

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