By Samindra Kunti
May 31 – Austrian topflight club FC Admira Wacker Mödling and Swiss start-up kickrs.net have teamed up to crowd-fund the development of the club’s youth academy.
Kickrs is the brainchild of its founder and current CEO Christoph Hornung. The start-up offers fans to invest in professional football clubs to increase clubs’ financing options.
Earlier this season, Kickrs partnered with Belgian club Sint-Truidense V.V. to crowd-fund the transfers of football players. Fans of STVV could invest in 18-year old Greek striker Panagiotis Kynigopoulos. In total, €230,000 was raised.
The structure of the new crowd-funding campaign with Admira consists of fans investing through a three-year loan to the club. The supporters will receive a 2% coupon in return and bonus payments, up to a 5.22% per annum yield, if certain sporting milestones are reached.
Admira’s goal is to develop more promising young talent. The club want to raise €100,000 for its youth academy. In the past the club’s academy has produced a number of Austria’s most talented players, including Andreas Herzog, Marc Janko, Marcel Sabitzer and Sinan Bytyqi.
This season Admira finished fourth in the Austrian topflight, qualifying for next season’s Europa League. Earlier this month the club from the outskirts of Vienna were defeated in the domestic cup final by Red Bull Salzburg.
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