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The Crypto Bros of Crawley Town
Manage episode 379567045 series 3511225
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Crawley Town FC was formed in 1896 and remained in junior football until 1951. Crawley adopted professional status in 1962 and remained in the lower reaches for most of their existence.
They are currently flying high in League Two but last season finished 22nd of 24 in the first full season under their new Ownership, their worst finish in their 12 years in the Football League, just three points above relegation to non-league, and a season that saw 5 managers grace the dugout.
They were bought by crypto consortium WAGMI United in April 2022, for a reported $20 million – WAGMI standing for We’re All Gonna Make It.
The mysterious group was fronted by Eben Smith and Preston Johnson, a consortium of American businesspeople and web3 investors with no prior experience in football, around the same time the NFT market began plummeting, and crypto investors turned to real-world assets for stability.
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