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Club owner: 'I explained league system to investors'

3 days ago
Danny Fullbrook,
BBC News, Bedfordshire

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Getty Images The Winklevoss twinsGetty Images
Gemini founders Cameron and Tyler Winklevoss have become co-owners in Real Bedford
The owner of a non-league football club told how he explained the English game to a
pair of American cryptocurrency investors who have injected $4.5m (about £3.6m)
into the club.

Podcaster Peter McCormack met Gemini founders Cameron and Tyler Winklevoss in 2021
and told them about his plan to buy Real Bedford FC, his local team.

He recalled: "Tyler and Cameron didn't know the difference between the Football
League and the Premier League.

"Tyler's first question back was, 'How do you get a team into the Premier League?'
I went away and came up with a plan and presented it back to them after two years
of running the club."

Peter McCormack
Peter McCormack bought Bedford FC in 2021 and renamed it Real Bedford
The tech duo became co-owners in the club after their Bitcoin investment.

Mr McCormack has spoken of his plan to take Real Bedford from non-league to the
Premier League.

He said the new investment would help it move up through the leagues and build a
new ground.

"I explained [that] to start going up through the higher leagues now, we have some
infrastructure requirements, and [I] asked if they wanted to become co-owners, and
they said 'Yes'.

"Our current ground can probably only take us up three more divisions and then we
have to think about a ground for the National League.

"If I require more investment for ground and infrastructure, they'll be willing to
listen to the proposal."

Mr McCormack compared the club to Wrexham, owned by Hollywood actors Ryan Reynolds
and Rob McElhenney, and how the investment could have a positive effect on the
community.
He told BBC Three Counties Radio: "Once you build a successful club, you can
support the community. It has this symbiotic effect. If you support the community
then they support the local team and come watch you play and help grow your
crowds."

Cameron Winklevoss explained in a post on X why the pair invested in the club.

He wrote: "We believe that Real Bedford - powered by Bitcoin and Peter’s leadership
- has the ability to defy the odds, upset the establishment and dethrone
incumbents.

"We love underdog stories that have the ability to literally change the game."

Follow East of England news on Facebook, Instagram and X. Got a story? Email
eastofenglandnews@bbc.co.uk or WhatsApp us on 0800 169 1830

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