The creators of the cryptocurrency exchange Gemini, Cameron and Tyler Winklevoss, are now investors in Real Bedford Football Club.
In a deal made possible by their financial company Winklevoss Capital, the brothers donated $4.5 million in Bitcoin to the football team.
They will be working with cryptocurrency podcaster Peter McCormack, who bought the club in 2022, thanks to this new collaboration.
The Winklevoss twins' financial contribution to Real Bedford is earmarked for a number of ambitious initiatives. These include building a football academy, building a new training facility, and increasing funding for child and female football programs.
After Gemini started sponsoring the team in January 2022, the twins started to have an indirect relationship with it.
Real Bedford also intends to create a Bitcoin treasury with the proceeds from this most recent investment.
The link between Real Bedford and well-known American investors is reminiscent of the same pattern observed with Wrexham AFC in Wales, which actors Rob McElhenney and Ryan Reynolds bought for £2 million ($2.5 million) in February 2021.
The Winklevoss twins, like Reynolds and McElhenney, are leveraging their technical investing expertise to support regional and community sports programs, extending their influence outside traditional corporate sectors.
However, the Winklevoss couple is merely the most recent in a long succession of affluent investors who view football teams as profitable trophy assets.
"A few decades ago, sports teams were primarily viewed as risky vanity assets," claims a recent S&P Global analysis.
It is a different situation now. Sports are now considered an asset class that "combines market-beating returns with the defensiveness often seen in low-growth utilities," because to the growing value of sports television rights and player salary adjustments.
The Portuguese team Sporting Lisbon Football Club is one that is allegedly looking to sell a minority share.
Current negotiations for a contract come after the club, where football sensation Cristiano Ronaldo began his career, restructured its debt.
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