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«While FIFA, the industry’s world governing body, is doing all they can to encourage financial fair play, the system does not lead to transparency from an ownership transaction perspective,» Taylor said.

While clubs garner revenue in different currencies from sponsorships, broadcasting rights, sales of merchandise and tickets, and transfer fee revenue, clubs lose funds over transactions fees at each exchange or transaction point, he says. «Payment delays are rampant throughout the industry which leads to a lack of trust in the system. We believe there is a better way through transparency and accountability.»

Arsenal Tie-Up

The MVP's mission is to create a transparent financial infrastructure which can support digital currencies in the more than $40 billion football economy's growth, according to a press release on Wednesday. Crypto firm Cashbet has already clinched a partnership with Arsenal FC, a London-based Premier League club.

«If MVP catches the public's imagination, it could genuinely change the way fans interact with their favorite teams for good and also offer incredible interaction,» said David Merry, CEO of Investoo Group. «For example fans could vote on player's pay, their performance and interact via blockchain in a way that has never been done before.»