You can read Casa Panenka Lightpaper - Part 1 here.

Football is the world's most popular sport, with an estimated 3.5 billion fans globally. Yet the governance of the game remains in the hands of a vanishingly small elite.

Concentrated wealth, concentrated power. The top football clubs are owned by billionaires, nation-states, and investment funds. In the English Premier League alone, ownership includes oil-rich Gulf states (Manchester City, Newcastle United), American billionaires (Liverpool, Arsenal, Manchester United), and Russian oligarchs-turned-exiles (Chelsea). Spain's La Liga features clubs owned by construction magnates and energy tycoons. Even clubs in smaller leagues are increasingly snapped up by wealthy individuals seeking prestige or sportswashing opportunities.

Fans are locked out. Despite filling stadiums, buying merchandise, and creating the culture that makes football valuable, fans have virtually no say in how clubs are run. Decisions about managers, transfers, ticket prices, and even club crests are made in boardrooms, not stands. When ownership fails—through financial mismanagement, poor sporting decisions, or outright neglect—fans bear the consequences while having zero recourse.

Financial mismanagement is rampant. From Barcelona's catastrophic wage structure that forced Lionel Messi's departure, to Derby County's collapse into administration, to the endless parade of clubs hemorrhaging money on overpriced transfers, football's financial track record is abysmal. Owners treat clubs as playthings, ego projects, or political tools rather than sustainable businesses or community institutions.

Sportswashing has become normalized. Authoritarian regimes and controversial figures increasingly use football clubs to launder their reputations. Newcastle United's Saudi ownership, Manchester City's Abu Dhabi connections, and Paris Saint-Germain's Qatari backing exemplify how football has become a vehicle for geopolitical image management rather than sporting excellence.

The beautiful game has an ugly ownership problem.

Fan ownership isn't a new concept. Clubs like Barcelona and Real Madrid have operated under socio (member) models for decades. German clubs follow the "50+1" rule requiring fan majority ownership. AFC Wimbledon and FC United of Manchester were founded by supporters after the original clubs were hijacked by owners.

These models prove that fan ownership can work—but they're far from perfect, and they're rarely accessible to ordinary fans.

Share schemes without power. Many clubs offer "fan shares" that amount to little more than symbolic ownership. You get a certificate, maybe voting rights on minor issues, but no real influence over sporting or financial decisions. It's ownership theater.

High barriers to entry. Even in genuine fan-owned clubs, buying a meaningful stake requires significant capital. A single share in a well-established club can cost thousands of euros. For fans in emerging economies—where football passion runs deepest—this is completely out of reach.

Geographic limitations. Traditional fan ownership models are confined to local supporters. If you're a passionate fan of a club in Kenya but you live in Brazil, you have no pathway to ownership. The most globalized sport in the world maintains the most localized ownership structures.

Socios and fan tokens: engagement theater. Companies like Socios.com have popularized "fan tokens" that promise influence over clubs. In reality, these tokens typically let holders vote on trivial matters (kit designs, goal celebration songs) while real decisions remain with ownership. It's engagement, not governance. It's merchandise, not equity.

Lack of transparency. Even in fan-owned structures, financial decisions often remain opaque. Budgets, transfer dealings, and commercial contracts are rarely published in detail. Fans are asked to trust leadership without the data to verify that trust is warranted.

While European football clubs are overvalued and inaccessible, a completely different reality exists in Africa, South America, and Southeast Asia.

Extreme undervaluation. Clubs with professional infrastructure, established fanbases, and pathways to continental competition are available for €2,500 to €10,000. For context, that's less than the weekly wage of a single reserve player at a mid-table Premier League club. The market inefficiency is staggering.

High-growth potential. Football infrastructure investment in emerging markets is accelerating rapidly. New stadiums, improved broadcasting deals, increased sponsorship, and professionalization of league management are creating an environment where smart investments can generate outsized returns.

Talent goldmines. African and South American clubs are the world's premier talent exporters. A single player developed and sold to a European or Gulf club can generate revenue equal to multiple years of operational costs. Ghana alone has produced over 4,000 professional footballers currently playing globally. Nigeria, Kenya, Chile, and Colombia have similar pipelines.

Passionate, underserved fanbases. These markets have some of the world's most devoted football fans—yet they've been consistently ignored by global capital. Professional, transparent ownership would be transformational for local communities and could build incredible loyalty and support.

First-mover advantage. Tokenized, blockchain-based ownership doesn't exist in these markets. Casa Panenka can establish credibility, relationships, and operational expertise while competition remains minimal.

Football ownership isn't just about who controls a club. It's about who benefits from the value that fans create.

Every chant, every ticket purchase, every moment of passion that fills a stadium—fans generate that value. Yet they're treated as consumers, not stakeholders. They're revenue sources, not decision-makers.

Casa Panenka exists to change that equation. We believe football clubs should be owned by the people who love them, not the people who see them as investment vehicles or political props.

We believe that a €5,000 club in Kenya has as much right to professional management, transparent governance, and community investment as a €500 million club in England.

We believe that technology can break down the barriers that have kept ordinary fans locked out of ownership for over a century.

The problem is clear. The opportunity is massive. The time is now.

Join us. Let's own this.

Casa Panenka is a Decentralized Autonomous Organization (DAO) governed by a community of football (soccer) lovers and fanatics. Many passionate fans want to own and operate team, but this is financially out of reach for them. Together we will write a new chapter in football club ownership, putting the benefits of many ahead of just a wealthy few. The collective ambitions of the DAO's contributors, whose goal is to own a professional football team, describes the underlying mission of DAOs in its purest form:

Out of many, one.

If you want to contribute to Casa Panenka, please join us on Discord.

Join us on X | Instagram | TikTok | Discord | YouTube

You can read Casa Panenka Lightpaper - Part 1 here.

Football is the world's most popular sport, with an estimated 3.5 billion fans globally. Yet the governance of the game remains in the hands of a vanishingly small elite.

Concentrated wealth, concentrated power. The top football clubs are owned by billionaires, nation-states, and investment funds. In the English Premier League alone, ownership includes oil-rich Gulf states (Manchester City, Newcastle United), American billionaires (Liverpool, Arsenal, Manchester United), and Russian oligarchs-turned-exiles (Chelsea). Spain's La Liga features clubs owned by construction magnates and energy tycoons. Even clubs in smaller leagues are increasingly snapped up by wealthy individuals seeking prestige or sportswashing opportunities.

Fans are locked out. Despite filling stadiums, buying merchandise, and creating the culture that makes football valuable, fans have virtually no say in how clubs are run. Decisions about managers, transfers, ticket prices, and even club crests are made in boardrooms, not stands. When ownership fails—through financial mismanagement, poor sporting decisions, or outright neglect—fans bear the consequences while having zero recourse.

Financial mismanagement is rampant. From Barcelona's catastrophic wage structure that forced Lionel Messi's departure, to Derby County's collapse into administration, to the endless parade of clubs hemorrhaging money on overpriced transfers, football's financial track record is abysmal. Owners treat clubs as playthings, ego projects, or political tools rather than sustainable businesses or community institutions.

Sportswashing has become normalized. Authoritarian regimes and controversial figures increasingly use football clubs to launder their reputations. Newcastle United's Saudi ownership, Manchester City's Abu Dhabi connections, and Paris Saint-Germain's Qatari backing exemplify how football has become a vehicle for geopolitical image management rather than sporting excellence.

The beautiful game has an ugly ownership problem.

Fan ownership isn't a new concept. Clubs like Barcelona and Real Madrid have operated under socio (member) models for decades. German clubs follow the "50+1" rule requiring fan majority ownership. AFC Wimbledon and FC United of Manchester were founded by supporters after the original clubs were hijacked by owners.

These models prove that fan ownership can work—but they're far from perfect, and they're rarely accessible to ordinary fans.

Share schemes without power. Many clubs offer "fan shares" that amount to little more than symbolic ownership. You get a certificate, maybe voting rights on minor issues, but no real influence over sporting or financial decisions. It's ownership theater.

High barriers to entry. Even in genuine fan-owned clubs, buying a meaningful stake requires significant capital. A single share in a well-established club can cost thousands of euros. For fans in emerging economies—where football passion runs deepest—this is completely out of reach.

Geographic limitations. Traditional fan ownership models are confined to local supporters. If you're a passionate fan of a club in Kenya but you live in Brazil, you have no pathway to ownership. The most globalized sport in the world maintains the most localized ownership structures.

Socios and fan tokens: engagement theater. Companies like Socios.com have popularized "fan tokens" that promise influence over clubs. In reality, these tokens typically let holders vote on trivial matters (kit designs, goal celebration songs) while real decisions remain with ownership. It's engagement, not governance. It's merchandise, not equity.

Lack of transparency. Even in fan-owned structures, financial decisions often remain opaque. Budgets, transfer dealings, and commercial contracts are rarely published in detail. Fans are asked to trust leadership without the data to verify that trust is warranted.

While European football clubs are overvalued and inaccessible, a completely different reality exists in Africa, South America, and Southeast Asia.

Extreme undervaluation. Clubs with professional infrastructure, established fanbases, and pathways to continental competition are available for €2,500 to €10,000. For context, that's less than the weekly wage of a single reserve player at a mid-table Premier League club. The market inefficiency is staggering.

High-growth potential. Football infrastructure investment in emerging markets is accelerating rapidly. New stadiums, improved broadcasting deals, increased sponsorship, and professionalization of league management are creating an environment where smart investments can generate outsized returns.

Talent goldmines. African and South American clubs are the world's premier talent exporters. A single player developed and sold to a European or Gulf club can generate revenue equal to multiple years of operational costs. Ghana alone has produced over 4,000 professional footballers currently playing globally. Nigeria, Kenya, Chile, and Colombia have similar pipelines.

Passionate, underserved fanbases. These markets have some of the world's most devoted football fans—yet they've been consistently ignored by global capital. Professional, transparent ownership would be transformational for local communities and could build incredible loyalty and support.

First-mover advantage. Tokenized, blockchain-based ownership doesn't exist in these markets. Casa Panenka can establish credibility, relationships, and operational expertise while competition remains minimal.

Football ownership isn't just about who controls a club. It's about who benefits from the value that fans create.

Every chant, every ticket purchase, every moment of passion that fills a stadium—fans generate that value. Yet they're treated as consumers, not stakeholders. They're revenue sources, not decision-makers.

Casa Panenka exists to change that equation. We believe football clubs should be owned by the people who love them, not the people who see them as investment vehicles or political props.

We believe that a €5,000 club in Kenya has as much right to professional management, transparent governance, and community investment as a €500 million club in England.

We believe that technology can break down the barriers that have kept ordinary fans locked out of ownership for over a century.

The problem is clear. The opportunity is massive. The time is now.

Join us. Let's own this.

Casa Panenka is a Decentralized Autonomous Organization (DAO) governed by a community of football (soccer) lovers and fanatics. Many passionate fans want to own and operate team, but this is financially out of reach for them. Together we will write a new chapter in football club ownership, putting the benefits of many ahead of just a wealthy few. The collective ambitions of the DAO's contributors, whose goal is to own a professional football team, describes the underlying mission of DAOs in its purest form:

Out of many, one.

If you want to contribute to Casa Panenka, please join us on Discord.

Join us on X | Instagram | TikTok | Discord | YouTube