Unregulated, underhand and uninvited

  • by Sanchoz
  • Filed: Tuesday, 23rd July 2019

Football clubs should not need to sign commercial contracts with third parties and intermediaries selling currently unregulated financial products to engage with its fan base or potential fans.

The whole idea of the controversial Socios.com partnership is to make you part with your money for things well-run football clubs should offer as a given, to actively engage with their supporters - and not try to milk them even further.



The Socios crypto currency (Chillz, $CHZ) is currently down by quite a way on its initial flotation price on the main crypto currency exchange platforms. This represents a financial loss for anyone who has invested to date.

Socios.com have stated they will give people free "fan tokens" which can then only be exchanged for $CHZ through their app and those free tokens are a drop in the ocean of the overall 8.8 Billion $CHZ that have been made available for trading now and in the future.

Outside of Socios.com and their soon to be released app, you can purchase $CHZ if you so wish. However be ready to enter into a financial gamble with no current regulatory oversight from the likes of the FCA (Financial Conduct Authority).

For something that 'only' at this moment in time would (apparently) equate to polls relating to man of the match and who people want to see at shirt signings, a totally competent football club that actually engages with independent voices and people and is not so totally afraid of any dissent or "losing control" of the narrative would never think about signing up to this kind of nonsense.

That West Ham United FC have to hold onto the debate and control how, when and if they engage with their own fanbase (with frightening levels of control freakery) speaks volumes as to the kind of football club that does actually sign up to this kind of scheme.

Socios is not there to bring you closer to the football club or turn power over to you or make you feel more valued. It is to - in the Socios CEO's own words - monetise you.





It is there to take your hard earned for something that should be free; to squeeze that little bit more out of you when you have already spent a pretty penny on a whole manner of things you elect to spend your money on when it comes to following this football club.

And to take advantage of people living abroad and prey on people by making them think that just because you live abroad and can't make a game, Socios and $CHZ is the way to get yourself right in the middle of following WHUFC and not feel like some sort of outsider.

Yet you can visit the club's website at whufc.com and vote in one of the polls they offer at the moment. It does not cost you any extra to do so and should not do so going forwards.

This is a totally cynical ploy and is powered by greed by all those involved. It should be shunned and run out of town.

However when people cannot see the wood for the trees and accept donations towards charitable causes as a way for Socios to try to ingratiate themselves and soften the edges (as per their strategy from PR firm Pretty Green), you begin to wonder if those who previously backed initial calls to say no to Socios are actually going to stay the course.

All power to those who stand firm and kept their convictions from the off, when others said it did not require consultation and offered no opinion until popular opinion swung in a particular direction (and continue to say "no").

* Like to share your thoughts on this article? Please visit the KUMB Forum to leave a comment.

More Opinion