Chattanooga Football Club has raised half a million dollars
CHATTANOOGA (WDEF) – The Chattanooga Football Club has reached the $500,000 mark in the first 30 days of their stock offering.
The CFC is raising money by selling limited public stock in the club.
The are using it to move from amateur to professional players and to go year-round.
They are the first American sports team to do this since the securities reform law passed in late 2016.
“We remain impressed and overwhelmed with the breadth and scope of this project means not just for Chattanooga FC, but for community sports clubs in America in general,” said said Tim Kelly, club chairman.
“We have not done this frivolously or in a vacuum; this is an investment in a soccer club with solid business and community ties and a vision for success on and off the pitch, and we know that is key in trying and succeeding to this point. The ROI on this investment, big or small, is in the people and the community. We are nowhere done, but we are proving the concept works, and that’s very exciting.”
They have investors from ten countries and 44 states.