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News BrewDog seeks to buy Columbus Crew SC, sell it back to fans

Discussion in 'Beer News & Releases' started by CbusBrews13, Nov 14, 2017.

  1. CbusBrews13

    CbusBrews13 Initiate (112) Apr 6, 2017 Ohio

    https://www.bizjournals.com/columbu...ants-to-buy-the-crew-and-sell-it-back-to.html

    A Scotland-based brewery is pulling out all the stops to keep the Columbus Crew SC from leaving town.

    BrewDog Plc, which calls Canal Winchester its American home, has all kinds of experience with crowdfunding and wants to use that model to buy the Crew and sell some of it back to fans.

    CEO James Watt penned this letter over the weekend:

    "We have now joined the discussion and effort with the Columbus Partnership and City and County officials to #SaveTheCrew. Like most fans, we believe in the power of great teams to galvanize their communities. The Columbus Crew is an important and long-standing part of our community. We stand with the passionate football (soccer) lovers across the world who believe that the game belongs to the fans.

    "At BrewDog, we are world leading pioneers and experts in crowd-funding and community ownership. Indeed our own business is part owned by a community of over 60,000 craft beer lovers and we have raised over $60 (million) through crowdfunding over the last few years.

    "We would love to facilitate and be involved in a potential purchase of the Columbus Crew from it’s current ownership structure and then immediately look to sell at least half of it back to the fans through crowdfunding."

    "We passionately believe the best people to own things are the ones who care the most about them," the letter said.

    The company also is brewing a Crew Brew that will launch this month to support the #SaveTheCrew movement.

    We have messages into BrewDog and the Crew for comment.
     
    66jzmstr likes this.
  2. 66jzmstr

    66jzmstr Devotee (410) Jul 17, 2005 Washington
    Supporter Subscriber Beer Trader

    I'm not necessarily a Brew Dog fan, and I don't know if anything will become of this, but as 1) a fan of MLS, and 2) someone who has been on the short end of carpetbaggery (Sonics fan), I applaud Brew Dog for stepping up. I believe the current owner, Anthony Precourt, already has his agenda, but perhaps if the City of Austin, which wasn't even looking for a MLS team, denies him the land and/or public funding, hopefully Brew Dog's efforts will come to fruition, and MLS will not lose one of its founding franchises.
     
    drtth, sharpski and distantmantra like this.
  3. Oktoberfiesta

    Oktoberfiesta Aspirant (288) Nov 16, 2013 New Mexico
    Beer Trader

    Can someone explain crowdfunding to me? Kickstarter seems like total BS. I'm guessing BrewDog is similar?

    Are BrewDog investors getting their money back? Do they stay vested forever or can they sell back their "stock"? I never quite understood the BrewDog structure. It all seemed like a bunch of crap to me.

    If something is investor or community owned, someone at the top is still making money, right?

    Crowd funding a brewery seems counter-initiative, unless they plan to sell out to a bigger investor later on
     
  4. rgordon

    rgordon Crusader (725) Apr 26, 2012 North Carolina

    Sounds kinda like Elmer Gantry and Glengarry Glen Ross all in one.
     
  5. frozyn

    frozyn Devotee (485) May 16, 2015 New York
    Supporter Beer Trader

    While crowdfunding takes many shapes these days thanks to the passing of the JOBS Act, Kickstarter campaigns do not provide for equity in the company/project. You pledge a certain amount of money to the campaign and in return you receive one of a series of perks related to the campaign, based on the amount you pledge, if the campaign is successfully funded to it's goal amount. Some campaigns go ass-backward after the funding (about 9% according to an independent review by UPenn), and fail to deliver on the perks, but the vast majority follow through on the campaign promises.

    Kickstarter is not BS, and my girlfriend's brother and his co-founder used it very successfully at the launch stage of their-now multi-million dollar company. The best way to think about it is as another source of funding as opposed to bank loans/venture capital investment: it's like hitting up friends and family, but instead random strangers on the internet. Plus, you aren't giving away equity/power in your company/project to investors -- as a founder, that's very appealing.

    I can't comment on BrewDog as, at the time, I couldn't care to read/get involved with them. At this time, I still don't care, but I do know they are different than Kickstarter.
     
    drtth likes this.
  6. drtth

    drtth Poo-Bah (3,197) Nov 25, 2007 Pennsylvania

    If the Green Bay Packers team can be owned only by their fans it would seem possible that a soccer team loved by fans could be owned by fans.

    Since BrewDog have been successful with this form of crowdfunding in growing their own business, and is at least partly owned by some of their fans, they stand a good chance at pulling this off if the Columbus fans step up and participate and if the current owner doesn’t have a deeply hidden agenda.
     
  7. drtth

    drtth Poo-Bah (3,197) Nov 25, 2007 Pennsylvania

    Might sound that way, but recent history has shown otherwise.
     
  8. drtth

    drtth Poo-Bah (3,197) Nov 25, 2007 Pennsylvania

    First read up on the BrewDog use of the form of crowdfunding they have used to grow from a small Scotland only based start up into an international presence.
     
  9. rgordon

    rgordon Crusader (725) Apr 26, 2012 North Carolina

    If the "purchaser" thinks they are happy, then I suppose that they are happy! The Brew Dog guys are likely pretty happy as well....and definitely very clever.
     
  10. drtth

    drtth Poo-Bah (3,197) Nov 25, 2007 Pennsylvania

    Well if all works out as intended the purchasers (multiple fans) will be quite happy. Yes, BrewDog owners have proven themselves very very capable.
     
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