Detroit City Soccer Club Seeks to Raise $10M from Investors
According to a February regulatory filing, Detroit City FC is seeking to raise $10 million in equity from investors.
Kirk Pinho of Crain’s Detroit Business noted that the filing doesn’t specify what the popular men’s and women’s professional soccer teams are raising the money for. Last year, the club shared plans to build a new stadium in southwest Detroit, moving out of the club’s current home in Keyworth Stadium in Hamtramck.
According to the Form D filing with the U.S. Securities and Exchange Commission, Detroit City FC has raised $1.1 million of the $10 million goal from a single undisclosed investor. The minimum investment requirement is $500,000.
Detroit City FC has grown a loyal fan base over the past several years. It was part of the National Premier Soccer League (NPSL) since the team began in 2012. The club then transitioned to the professional level in the USL Championship league during the 2022 season.
