Terry Venables launches football fund
Neatly timed to coincide with the start of the football season, former England manager Terry Venables is set to launch an investment fund which aims to develop young players in Europe, Africa and South America.
Venables’ fund is called the Football Talent Fund and is looking to raise £5 million from investors, in units of £1,000 each, with a minimum investment of £5,000, according to The Mail on Sunday.
The paper reported that the fund has predicted returns of 12% a year and plans to repay investors’ capital plus any growth at the end of five years.
The money will be spent on coaching young players and on acquiring a stake in a second division Portuguese football club, which will act as a feeder club.
According to the Mail, the fund will generate returns by receiving a percentage of the agency rights of players which it trains and who go on to play for the Portuguese club. The rights cover future earnings, marketing income and future transfer fees.
Venables has launched the fund with former Benfica player Hugo Ribeiro, English player John Mitchell and ex-Tranmere Rovers player Michael Black.