Detroit City FC is Detroit’s official pro soccer team.
They play at outdoor Keyworth Stadium in Hamtramck, which has 8,000 seats.
And also at the 75,000-square foot indoor Detroit City Fieldhouse in Detroit.
Historically, revenue is driven primarily by home game attendance, of which DCFC regularly has some of the largest crowds in American soccer outside of Major League Soccer (MLS).
Because of the pandemic there have been no fans at the games, not ticket sales, no concessions — a big financial hit. So, the team is raising money and it’s giving fans a chance to own part of the team.
Normally during a game Keyworth Stadium is packed — overflowing with fans. This year, nothing but empty seats and a shortened season of just four games.
Detroit City FC decided to offer up to 10% equity of the club to supporters.
Former Michigan resident and native Ypsilantian Iggy Pop is the lead investor. He was chosen to lead the campaign, and news spread quickly. In 5 days, more than 2,000 people have invested more than $1 million in the club. The minimum investment is $125.
On July 30, 2020, DCFC opened to the public for the first time ever the opportunity to buy an equity stake in the club.
Cultural icon, and Michigan-native, Iggy Pop is providing his voice for an ad for the campaign, and has signed on to be an investor in the campaign, as well as symbolically represent all community investors that become part of the organization’s ownership group.
The raise is through a federal Regulation CF offering, with units in the company open to investors across the globe, starting at $125.
The club is looking to raise a maximum of $1.2 million through the sale of 10% of the equity of the club. Funds from the raise will primarily be used for improvements to Keyworth Stadium, increased front office staff, and reserve funds for continued COVID related costs.
DCFC is the sporting embodiment of the resurgence of one of the world’s most iconic cities, Detroit. Invest today.
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Financials
Detroit City Football Club has financial statements ending December 31 2019. Our cash in hand is $1,081,011.22, as of July 2020. Over the three months prior, revenues averaged $22,370/month, cost of goods sold has averaged $20,737/month, and operational expenses have averaged $73,739/month.
Use of Funds
| $50,000 | 93.5% towards cash reserves for COVID related uncertainties. 6.5% towards WeFunder fees. |
| $1,070,000 | 33.5% towards Keyworth Stadium improvements (additional restrooms and concessions), 20% towards additional staffing with focus on sales, 20% towards cash reserves, 20% towards 2020 COVID related reimbursements, 6.5% towards WeFunder fees |
