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The German midfielder and his investment partner want to sell part of their Liga MX club ownership through digital tokens
Mesut Ozil and his ownership partner in Liga MX club Necaxa may plan to sell part of their equity through a non-fungible token (NFT) blocked by the Mexican Football Federation.
Özil’s group Announce This week, it will sell digital tokens representing 1% of Necaxa’s shares to the public. However, the Mexican Football Association issued a statement on Tuesday night saying that under its current rules, the plan may not be allowed. It argued that the plan violated the guidelines that the sale of any financial shares in the club, regardless of size, would require the approval of the league.
NFT, they are A rare online collectible Cryptocurrency purchases are usually used, and given the freshness of the industry, it is still an obscure legal subject, so the ownership group associated with Özil may counterattack the Mexican Football Association.
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What is Necaxa’s proposal to own the NFT?
Özil is part of an investment group that has purchased Report 50% of Necaxa’s shares. Individuals participating in the project include Victor Oladipo of the NBA, Justin Wieland of Major League Baseball and skier Bod Miller.
They all proposed to create an NFT, representing 1% of the club’s shares. In other words, they will sell their small share of the organization to the public, and the highest bidder will receive a unique digital token that, in addition to interest in Necaxa, will also provide promised privileges such as access to the team and Its facilities, home and away games tickets, championship rings and team merchandise.
Crucially, this 1% of the shares can be sold to anyone. The NFT industry norms indicate that Özil’s investment group will receive creator royalties from any further changes, although this has not been confirmed in this case.
What did the Mexican Football Association say?
The problem in the eyes of the Mexican Football Association is that all sales should be approved by the league, and selling NFTs on the blockchain will not follow the agreement.
“According to our regulations, the membership card [of ownership] Except for the explicit approval of the MX LIGA Congress and the confirmation of the Executive Committee of the Mexican Football Federation and/or the Congress, no figures may be transferred or modified,” the governing body wrote in a statement. The statement is posted on its official website.
“Therefore, the direct or indirect equity participation of the LIGA MX club is not subject to any type of exchange, or purchase in any way or form of payment (including NFT), except as previously recognized by our regulations.
“Any change or direct or indirect increase in shareholders (regardless of the legal form involved) will be regarded as a replacement for the membership certificate and therefore will comply with the above requirements.”
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