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Oakland Roots and Soul hold second investment round
We hear from co-founder & CMO of the Oakland Roots and Soul soccer clubs about how fans can invest in the teams.
OAKLAND, Calif. - Oakland soccer fans now have a second opportunity to invest in their favorite teams.
The Oakland Roots and Soul launched their second community investment round today.
The teams are giving fans a chance to own a stake in the teams based on a $93 million valuation.
The teams held their first investment round last year, raising more than $3 million, and everyone who contributed became a partial owner of the soccer teams.
The Roots say those contributions from new investors marked the largest ever in American sports.
You can track the Roots and Soul's progress to their $3 million goal here.
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Show of community support for Oakland Roots and Soul Soccer Club
The Oakland Roots and Soul Soccer Club has exceeded expectations when it comes to the organization's community investment campaign. The initial round of crowdfunding effort wrapped up after raising more than $3.1 million dollars, partially thanks to some new celebrity investors. KTVU's Alex Savidge and Heather Holmes speak with Mike Gedders, Co-founder and Chief Purpose Officer for the Roots and Soul about the crowdfunding campaign's success and what the money will be used for.
The teams are now looking to raise another $3 million.
Notable investors include Dallas Mavericks head coach and East Bay-native Jason Kidd, former Cal Bear Marshawn Lynch, rapper G-Eazy, and Green Day front man Billie Joe Armstrong.
The Roots and Soul have inspired other local teams to hold their own investment rounds.
The Oakland Ballers recently raised more than $2 million from community contributors.