Bitcoin Entrepreneur May Bail Out Ailing UK Soccer Club

Struggling British soccer club Wigan Athletic may have a new investor to save the day, as banker and bitcoin magnate Jonathan Rowland is named the latest bidder, according to a Monday report from The Sun.

Wigan went into administration in July 2020, only four weeks after a Hong Kong-based consortium took over the club. The coronavirus pandemic is said to have had a significant impact on the football club's finances.
The estimated cost for taking the club out of administration is around £3 million ($4.02 million) and a further £5 million ($6.69 million) is needed to convince the English Football League (EFL) of its long-term plans.
According to the report, Rowland is “willing to fund" a bid proposed by former professional soccer player Ray Ranson and former Wigan Chairman Darren Royle.
Rowland is the founder of bitcoin finance app Mode and online investment company Jellyworks, launched at the height of the dot-com boom.
He is reportedly close friends with Prince Andrew and worth an estimated £600 million ($803 million). In 2005, Prince Andrew unveiled a life-size bronze statue of Rowland smoking a cigar in Guernsey.
Two unnamed Spanish investors are also bidding for the soccer club, with meetings taking place in November, reports Wigan Today.

Also read: Blockchain Enabled Fantasy Soccer Firm Sorare Raises $4M in Seed Fund Round

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Tanzeel Akhtar

Tanzeel Akhtar is a reporter based in London,UK.

Follow @Tanzeel_Akhtar on Twitter

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.