The Élan Béarnais Pau Lacq Orthez, the basketball club in Pau, is selling part of its capital in the form of tokens. These will give a right to vote on the club’s decisions and will offer other advantages such as the possibility of receiving dividends. This is a world first in the world of sport
Pau basketball club sells tokens
The basketball club of Pau can now boast a world first, namely the sale of a part of a sports club in the form of tokens.
Indeed, the Élan Béarnais Pau-Lacq-Orthez (EBPLO), of its full name, will proceed to the sale of about 40% of its tokenized capital from Tuesday, April 26:
The token sale is coming in two days!
The first two weeks of the sale will be reserved for French buyers. In addition, for the first buyers, 500 lots of 500 tokens will be available for 450 euros. So don’t delay! pic.twitter.com/PZoxXbGdmU– EBPLO (@EBPLO) April 24, 2022
It is possible to participate in the sale by filling in a dedicated form directly from the club’s website.
This operation is made possible thanks to a close collaboration during 9 months between CounterPointe Sports Group, which owns the club, and the Autorité de Marchés Financiers (AMF).
The major difference between these tokens and the fan tokens offered by Socios.com or Binance in particular is that they give legal ownership of the club. They are in fact Security Tokens, like the tokens of RealT for example.
It should also be noted that this is not the club’s first blockchain initiative. On April 10, during a match against Limoges, where a former president of the club was honored, it was possible to mint an NFT for free by flashing a QR code.
A token with multiple benefits
The sale will initially be reserved for French citizens before being extended to the rest of the world. The first investors will have at their disposal 500 lots of 500 tokens at a price of 450 euros, then the prices will be progressive until reaching 1.05 euro per token.
This asset will be hosted on the Avalanche ecosystem (AVAX).
Owning tokens of the Pau basketball team will allow to sit on the board of directors of the club and to benefit from a voting right at the rate of one vote per token. The profits from the sale will benefit the EBPLO in full and will be distributed, among other things, between salaries, the training programme for young people, a property project and the financing of new equipment.
In the event of profits in l’Élan’s fiscal years, token holders will also be eligible to receive dividends.
This unprecedented action in the crypto world is undoubtedly a driver of growth and federation with a local economy, in this case a sports club.
With the support of the AMF, this initiative gives hope for a future where other similar projects would be born, giving a central place to the fans in the life of a team.
