A film about the first black footballer to play for England claims this week’s crowfunding title.
The project is raising equity capital through the CrowdBnk platform. A film from acclaimed production company Roker 37, Black Flash will portray the story of Laurie Cunningham – a softly spoken but exceptionally talented footballer who became something of a national icon as the first black player to represent England on the football pitch. Comedian James Corden has already signed on to play the coach, with former rapper turned actor Asher D. (Ashley Walters) set to play Cunningham.
The team behind Roker 37 already boasts an impressive array of prior achievements – having produced Class of ’92 (the most successful UK sports documentary ever created) as well as the recent One Direction documentary that took $70 million worldwide in the box office.
The company is also pioneering an innovative model for film financing. Backers of the “Black Flash” campaign will invest not only in the film but also in Roker 37 itself. This will allow investors the opportunity to participate in future film productions as well. The unique approach is intended firstly to offset the commercial risks that typically dog investments within the film business, and to enhance the opportunities for investors to generate income.
Leo Pearlman, Executive Producer of the film, explained the offer:
“In terms of the returns on the EIS, if the film is commercially successful the investor recoups 100% of their cash investment plus the 30% EIS relief, after which they have a 25% share of all net profits moving forward uncapped. Another unique element of this EIS structure which sets it aside from all other film equity investment structures is that we do not do any pre-sales. We don’t presale a single territory, which means that all of the recoupment – all of the commercial potential – is saved for the investors. In addition to which, the production company Fulwell’s interest in this is totally aligned with the investors. So not until the investor is fully recouped and is getting into profit do we share in that. If the film is a failure because we don’t deliver, then we earn nothing out of this – and that is absolutely key. There are no huge fees taken out of the front end which would normally be the case when it comes to film investment.”
Amount raised so far: £1,646,000 (overfunding)
Investors so far: 10
Fundraising target: £1,500,000
Minimum investment: £1,000
Equity offered: 25% share of all net profits (uncapped)
Tax relief: EIS
Days left: 3