Former England and Tottenham Hotspur 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.
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Venables (pictured) has launched the fund with former Benfica player Hugo Ribeiro, English player John Mitchell and ex-Tranmere Rovers player Michael Black.
This is not the only football fund to recently come to market.
Earlier this summer Silk Invest collaborated with Liverpool footballer Kole Touré to launch of an African footballers fund.
The Luxembourg-domiciled fund will primarily invest in African markets, with investment decisions spearheaded by Silk chief executive and chief investment officer Zin Bekkali and head of investment solutions Malick Badjie. The investment team includes 11 different African nationalities spread across the region.