Supporter run soccer team San Francisco City Football Club made public this morning a groups of investors has bought a minority stake in the soccer club. The new investors will provide capital for the team as it attempts to become a professional soccer club in San Francisco.
SF City was incorporated in 2014 as a non-profit majority supporter-owned club. Its members pay annual dues and have voting rights in club matters. There are currently several hundred paying members. In 2015 the amateur club competed in the NorCal Premier Soccer League, the fifth tier of soccer in the USA. They achieved success on the field, including qualifying for the 2015 US Open Cup.
For the 2016 season, the team announced it will be moving up to the USL PDL, the fourth tier of soccer and the highest level of amateur soccer in the USA.
“Over the last year, we set out to create an operating structure for the Club that allowed for outside investment while ensuring SF City remains a Club led by its members and is supporter run and owned,” said San Francisco City Football Club President Jacques Pelham.
SF City FC will play its 2016 season in the USL PDL.The minority investment group, which will have a 49 percent stake in the club, includes:
● Alex Bard, CEO at Campaign Monitor, previously EVP at Salesforce
● Mitch Lowe, Active angel investor and advisor; previously Co-founder & COO at Redbox
● Gary Benitt, General Partner at Social Leverage; previously Co-Founder & COO at Desk.com
● Ethan Kurzweil,Partner at Bessemer Venture Partners
● Scot Chisholm, CEO & Co-founder at Classy
● Andy Jones, a 15 year veteran in the financial services industry.
“We are extremely proud and excited to join a passionate founding team and the SF City Membership Group in helping to build an organization that will not only represent San Francisco on the field, but also remains committed to helping San Francisco communities off the field as well,” said Alex Bard, member and spokesman for the investor group.
The club also announced a new operating agreement for the team. The club’s executive board will consist of one member of the investor group, one representative from the paying members, and the president of the soccer team. SF City’s paying members will continue to have ultimate say in the selection of the team’s leadership and any major club decisions.
For its 2016 PDL season, SF City will play its home games at Kezar stadium in San Francisco. This Saturday, January 23rd, the club will host a celebration and forum for the team and its members at The Hall SF, located at 1028 Market Street, from 2pm-4pm. Anyone interested about the club are invited to attend.
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