Finance guru: Man City ‘exploiting’ fans as new deal announced – ‘it’s not gone down well’
Man City need to look “at how and why they are engaging” with blockchain-based fan engagement platform Socios, according to Doctor Dan Plumley.
The football finance expert, speaking exclusively to Football Insider, claimed such platforms are “risky” and “exploits” fans for supporting their club.
As announced by Socio (7 June), Benfica have signed a new partnership with Socios which will see them become the first Portuguese club to launch the fan token.
The likes of Barcelona, Paris Saint-Germain, Juventus and Man City are already in partnership with the fan engagement platform.
City announced their partnership with Socios in March 2021.
The price of their token has dropped by more than $10 over the past month.
When asked by Football Insider‘s Dylan Childs how Benfica’s involvement effects other clubs fan tokens, Plumley said: “You can spin it both ways.
“In one regard, more clubs getting involved in this kind of thing, especially bigger clubs, it gives vindication to Man City.
“But sometimes clubs are looking for greater exclusivity in a market. They won’t want too many big clubs getting involved.
“I think it is still a very risky platform. Socios in particular has taken a lot of criticism because of its exploitation of fans. It has not gone down very well full stop.
“Clubs should be looking at how and why they are engaging with the platform because it is very risky.”
In other news, a pundit has shared a verdict on Bernardo Silva quitting Man City this summer amid fresh quotes.