Australia’s well-known passions of sports, beer and mateship have combined to deliver the country’s first crowdfunded pub.
More than 330 investors – some offering as little as $50, some as much as $10,000 – have committed a combined $1.2 million to become part-owners of the latest sports-themed pub developed by US-style chain, The Sporting Globe.
The commitment is almost double the initial $700,000 target The Sporting Globe founders James Sinclair and Brad Harris (the son of Flight Centre co-founder Geoff Harris) hoped to secure for the franchisee of The Sporting Globe Plenty Valley, which will open in March in Melbourne’s outer northern suburbs.
“The equity raise is likely to go ahead following such a strong response to the initial expressions of interest,” Sinclair told Weekend AFR.