Oakland Roots Pro Soccer Team Raises Nearly $2 Million in First 4 Days of Crowdfunding

For $100, you can own a part of Oakland’s professional soccer team.

As of Friday afternoon, just four days into an equity crowdfunding campaign, the Oakland Roots club has already raised nearly $1.7 million of its $2 million goal, with plans to expand its reach and build a new stadium on top of one of the Oakland Coliseum’s unused parking lots.

The fundraising campaign gives anyone a chance to invest in and own a (small) share of the team — as opposed to just donating to it. It’s a relatively common funding model for European sports clubs, but exceedingly rare in the United States; the Green Bay Packers are one of the only professional teams with a similar public buy-in structure.

Amid the exodus in recent years of several other pro teams from Oakland — including the Raiders, the Warriors, and most likely soon, the A’s — the Roots say they’re here for the long-term. The team was started in 2018, with the stated mission to “harness the magic of Oakland and the power of sports as a force for social good.” Since then, it has expanded into a club that includes a women’s semi-pro team (the Oakland Soul) and a youth team, in addition to several other community initiatives.

“Oakland Roots & Soul Sports Club is the last, best hope for professional sports in Oakland,” the club states in its campaign manifesto.

The club, which is drawing investors through the platform Wefunder, first announced the capital campaign in July, but only opened the public investment round on Wednesday.

Anyone can invest anywhere from $100 to $25,000 and receive a proportionate number of ownership shares in the club. Investors also get perks like exclusive merchandise, invitations to VIP events and behind-the-scenes access.

The minimum $100 investment gets you a certificate of ownership and access to the annual financial report. A $510 investment (for the 5-1-0 area code), comes with early access to new merchandise and an owner’s T-shirt that says “My Town, My Team.” For $1,000 you can have your name added to a mural in the future stadium.

Although the club has already attracted big-name early lead investors, like former NFL running back Marshawn Lynch, the current community round is being marketed as an opportunity for fans to own a part of something they love, rather than much of a money-making venture. No, you probably won’t get any dividends paid out (although there’s always a possibility).

The team says it plans, instead, to reinvest any profit into its growth. A return on investment, however, could come either via an acquisition of the club or by selling shares to other investors — which will be allowed after a year.

For its first three years, the Roots played at Laney College. But changes to the turf there prompted the team to move to the campus of CSU East Bay in Hayward, where they plan to stay through at least the 2024 season. After that, though, the goal is to build a modular 10,000-seat stadium in the Oakland Coliseum’s unused Malibu parking lot on the southwest side of the facility. Those plans, though, are contingent on approval by the Oakland City Council, which is scheduled to vote on it next week, said Thomas Hodul, a spokesperson for the club.

Along with its pro men’s soccer team that plays in the United Soccer League, or USL, (one step below Major League Soccer, or MLS, the premier American pro league), the Roots club also launched its women’s team last year. The Soul plays in the “pre-professional” USL W league, and includes a number of rising college stars and promising local players. Expanding the resources for that women’s team is one of the key plans for the crowdfunding money, the club says.

The other focus will be expanding its partnerships with a number of community outreach nonprofit programs in Oakland, particularly Project 51O — a soccer team geared at recruiting and developing local youth talent.

The Roots are currently ranked sixth in their 12-team division and are expected to make the playoffs, which start in November. The Soul, meanwhile, are ranked second.

The Roots’ regular season runs from March through October, with games typically played on Saturday nights — while the Soul play from May to July. Tickets start at $25.

Nina Thorsen contributed to this report.