Real Bedford FC, a club in the ninth tier of English football, has secured a significant $4.5 million investment from Winklevoss Capital, the investment vehicle of Gemini cryptocurrency exchange founders Cameron and Tyler Winklevoss. The club, purchased by podcaster Peter McCormack in 2021 with ambitions of reaching the Premier League, announced the Bitcoin-based funding. With this investment, the Winklevoss twins will join McCormack as co-owners of the club.
Background on the Winklevoss Twins: The Winklevoss brothers are no strangers to the public eye, having been involved in a well-known legal dispute with Facebook founder Mark Zuckerberg during their time at Harvard, alleging that he stole their ConnectU idea to create Facebook. This dispute was settled in court, with the twins receiving $20 million in cash and Facebook shares as part of the settlement, a story popularized by the film “The Social Network.” Since then, they have become prominent figures in the cryptocurrency world, amassing substantial wealth as pioneers in Bitcoin investments and founding the Gemini crypto exchange. However, their journey in the cryptocurrency industry has faced challenges, including recent orders to return over $1 billion to customers and pay fines related to regulatory issues.
Club Development Plans: The investment from the Winklevoss twins will fuel several key initiatives at Real Bedford FC, including the development of a new training center and the creation of a football academy aimed at nurturing upcoming talent. Plans are also in place to bolster support for youth and women’s football programs. Moreover, part of the funds will establish a Bitcoin treasury, aimed at securing the club’s future ambitions.
Tyler Winklevoss expressed enthusiasm about joining forces with McCormack, highlighting a shared belief in Bitcoin’s potential to advance the club’s aspirations towards joining the elite ranks of English football. Cameron Winklevoss added, “This isn’t just an investment in a football club; it’s an investment in a dream to elevate Real Bedford to the Premier League.”
Currently leading the Spartan South Midlands Football League Premier Division, Real Bedford FC is set to benefit from the financial and strategic input of the Winklevoss twins, which McCormack believes will significantly aid in the club’s and community’s ongoing development.
