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07th Apr 2022

Cryptocurrency company WAGMI United confirm takeover of Crawley Town

Callum Boyle

crypto Crawley Town

WAGMI United were confirmed as the club’s new owners on Thursday

Crawley Town have confirmed that they have been taken over by WAGMI United – an American investment group who specialise in data cryptocurrency and non-fungible tokens (NFTs).

The group is comprised of sports gambling analyst Preston Johnson and co-founder Eben Smith, a trader who has moved from from derivatives to NFTs. The pair will act as the club’s sporting directors.

As reported by the Sussex Express, they are also expected to be joined by Daryl Morey (the president of NBA side Philadelphia 76ers), businessman Gary Vaynerchuk and TikTok personality Bryce Hall, as well as others.

Crawley’s new owners released a statement on Thursday

crypto Crawley Town

A statement from the club said: “Crawley Town Football Club can today confirm that investment group WAGMI United LLC have purchased Ziya Eren’s controlling shares of Crawley Town Football and Social Club Limited.

“WAGMI United is dedicated to bringing Web3’s most innovative ideas and passionate communities to the world of sports. Founded by Preston Johnson and Eben Smith, WAGMI United seeks to reimagine how professional sports teams are owned and operated — building tight-knit communities of passionate fans and empowering them to take a personal stake in telling their team’s story and shaping its future. They are eager to bring this exciting new approach to the club.”

Meanwhile, Johnson also addressed the fans with a personal message, where he outlined WAGMI’s vision for the League Two club.

“Crawley Town Football Club is a club with more than 125 years of rich history that we revere and respect,” he said.

“However, a conventional approach to ownership hasn’t worked, and the club is losing hundreds of thousands of pounds while its fans suffer through year after year of uninspiring results on the pitch.

“We think the club can do better and our fans deserve better. Sports are supposed to be fun and bring communities together. At Crawley Town, we’re going to shake up the status quo, try out some new ideas, and build a worldwide community of fans new and old that can be excited to cheer on the Red Devils together — stretching from West Sussex to anywhere in the world with an internet connection.”

WAGMI previously failed with a bid to buy another League Two side

crypto Crawley Town

WAGMI previously attempted to buy League Two side Bradford City, however, strong fan backlash meant a deal never materialised. Now, less than four months after their failed bid, they have now found their club.

“If we’re trying to build a community-club, and we are, then we have to build in mechanisms to hold ourselves accountable,” said Eben Smith.

“So if Crawley Town Football Club doesn’t get promoted to League One by the end of our second season, which we think is about 50/50, then we under-performed. If we underperform, Crawley Town fans should get to vote on who the next directors of the club are.

“We might run for reelection because it was clearly all Preston’s fault, but we don’t just get to hold the fanbase hostage because our dad invented Cablevision.”

Crawley are currently 13th in League Two and face relegation-threatened Barrow on Saturday afternoon.

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