Mexican side Necaxa offer 1% stake via NFT auction

Date: 
Tuesday, June 1, 2021

By: Sport Industry Group

Mexican football side Necaxa has offered potential investors 1% of the Liga MX club through an NFT auction.

The Club Necaxa Token will be a permanent 1% stake which will not be diluted even if the owners issue equity. Nor will the owner have to take part in future capital calls, according to Al Tylis, who recently purchased a 50% stake in the club through his NorthStar Asset Management firm.

An auction will take place on OpenSea - an online NFT and crypto collectibles marketplace - and will last about two weeks. 

The token is expected to open for bidding at around $1.3 million (£917,000)