ANGER BOILS OVER AS FOOTBALL INDEX FACES LIQUIDITY CRISIS & SLASHES DIVIDENDS

UK-based football trading platform Football Index has been forced to disable Twitter comments following personal threats against staff, after “substantial” losses forced a dividend restructure. 

With the COVID-19 crisis significantly reducing liquidity on the platform, which allows players to trade shares in professional footballers stock market-style, Football Index has been forced to reduce dividends. 

Illustrating the scale of the crisis the platform is facing, a share in Borussia Dortmund’s Jadon Sancho cost players £15.04 GBP at the start of September 2020, but had plummeted to just £1.03 at the time of writing. 

With some players reported to have six-figure stakes invested in players on the platform, there has been growing desperation among users, with many angrily lashing out at Football Index, and some making personal threats against staff, prompting the platform to disable Twitter comments.

As previously reported, in December 2020, Mike Bohan took over as CEO of Football Index, while previous CEO, Adam Cole, was appointed company chairman.

AYO.NEWS says:

Football Index has made quite a splash in the UK over the past six years, offering players an alternative to traditional sports wagering. Of course, the COVID-19 crisis has been a true ‘black swan’ event, and hit many businesses in unexpected ways – none more so than football and other sports – so it’s not exactly surprising to see Football Index negatively affected. 

However, critics of the platform have long warned about potential dangers, especially the fact rules can be changed mid-contract, and we’re sure the development will prompt some observers to again question whether Football Index has been portrayed too much like an investment product, rather than a gambling product.