By Jon Johnson
Want to own a piece of the Dothan United Dragons?
There is a potential pathway to do so in the coming weeks for those interested in becoming a shareholder in the local United Soccer League Two franchise, which is currently in its third year of operation.
Dothan United has partnered with Vicinity Ventures, an investment platform based in Greenville, S.C., that connects potential investors with local businesses.
A press conference was held in the Dothan United locker room Friday afternoon by team management explaining the process, to gauge fan interest and get the ball rolling.
“Today, we are exploring the opportunity to allow the community to be our partner,” Dothan United co-owner Mike Schmitz said. “We have a big vision … our goal is to sustain this for years.
“Truthtfully, building a professional team in Dothan is expensive. Here’s the deal – we don’t want to be just average. We want to be family affordable entertainment and first-class soccer that wins. That’s who we are.”
But Schmitz cautions this is just the early phase of seeing if the community partnership can become a reality.
“If you come into this, please understand we’ve got a lot of work to do, right?” Schmitz said. “This is not your grocery money; your gas money … no. But if it’s something you feel you want to be part of, what we can promise you is our effort, our hard work, our transparency and doing everything we can to help this community and this team to be the best in the country.”
Team president and co-owner Steve Donner believes the time may be ripe for a community partnership as the sport continues to grow in popularity across the country.
“With the U.S. hosting the World Cup, there are eyeballs on soccer in this country that have never been interested in soccer before,” Donner said. “When I got into soccer back in ‘94, it was just after the first World Cup was hosted here in the U.S.
“At that time, there were 11 pro soccer teams in the United States. Today, there are almost 400 teams of all levels, starting with Major League Soccer and working its way down.
“What we expect coming out of this World Cup is another tremendous boom of growth for soccer. So being a small market … a mighty, but small market team … it’s important for us to think ahead and outside of the box and secure our future.”
Josh Rollins of Vicinity Ventures was on hand to further explain the vision.
“We are looking for the most exciting opportunities where the community can become a part of the local assets that really differentiate the community,” Rollins said. “This soccer club represents that about as perfectly as we have seen.
“Our job is to really facilitate and support investors as they consider and learn about what this opportunity really looks like. Ultimately, we host and facilitate this on our platform to make sure everything stays compliant and you’re getting all of the right information, and that this goes really smoothly for anybody who chooses to invest.”
Vicinity Ventures has already partnered with the USL team in Greenville with good results.
“They were able to raise about $730,000 in about a week of a lot of built up interest,” Rollins said of the Greenville club. “With everything that is going on with soccer in our country, we see some great opportunities.”
Rollins said there would be opportunities for shareholders to get returns on their investment.
“A lot of those details will continue to come out,” Rollins said. “Right now, what we say is it’s an equity deal coming in as part owner of the team, and owning a small share of the club. That ultimately determines the investment mechanism.
“Starting right now on the interest side, and then over the next handful of weeks or so, getting everything ready to try and file to open up for investment.”
Rollins was asked if there would be a minimum set for an investment and if there would be a board set in place if the project comes to fruition.
“It’s not firmly determined right now, but typically how these go, the minimum will be somewhere around $1,000 to $2,500,” Rollins said of an investment.
“Typically, the goal with things like this is you’re supporting a leadership team that you believe in to carry this forward, but also coming in as an active participant.
“Of course any investment is risky. We’re talking about equity ownership, so the goal is to invite people in where they’re comfortable; where they’re able to participate, but ultimately, be along for the ride long term.
“All of those boxes were checked here on what they want, what the community I think offers, and what this asset I think can grow into.”
For more information, go to the website www.vicinityventures.co and click on offerings at the top of the page. Once you see the Dothan United logo, click on indicate interest and there is a form for those interested to fill out and submit.
