Detroit City FC closes in on $1.2 million goal for partial sale of team
After just a few days, Detroit City FC has nearly reached its crowdfunding limit of $1.2 million through a 10% sale of the team.
DCFC, a limited liability company with a half-dozen local owners, is selling “units” in the organization — an LLC can’t issue stock — for as little as $125. As of Tuesday afternoon, more than 2,000 investors had purchased units worth $1,070,000 at WeFunder.com.
Investors are rewarded with perks such as scarves for a $250 pledge to an owners’ suite at Keyworth Stadium for the $50,000 maximum.
DCFC owners launched the crowdfunding effort to help the organization recover losses caused by the COVID-19 pandemic.