Owen helped build Hashtag into a club with more than two million social media followers – similar to Bournemouth, the Premier League club with the fewest followers.
They employ a 14‑strong full‑time media team, producing a constant stream of content that creates an additional revenue source most clubs at their level do not have.
Yet the club attract an average of only 216 supporters per match to their temporary home in Aveley, Essex. According to the club, that had become a “toxic” situation – one they now feel they must resolve.
“At the moment, at least, we do not benefit from the core business model that clubs 100 years old in our division have, whether gate receipts or food‑and‑beverage income,” Owen said.
He said relegation would mean reducing the playing budget by 30–40%, with “six figures” being reinvested into a new permanent home at Redbridge FC’s Techsoc.Com Stadium, next to Barkingside station and easily reachable from both London and Essex.
“You couldn’t get a more Hashtag location,” Owen added. “It’s a big swing for us – a permanent home, building a fanbase.
“We’ve had four homes. We’ve never spent a penny on trying to drive people to games. Next year we’ll spend significant money on that.
“That’s why we must protect resources. People say, ‘You raised all this money, surely you can afford Step 3.’ Yes, we could – but it would disadvantage the business long term because we’d have to spend supporters’ money on footballers who wouldn’t guarantee success.
“Everyone who understands football knows this is the smarter play. Get a ground. Build a fanbase. Take a step back. Drop the ego. Do what’s right long‑term.
“Ideally, we’d get relegated on the pitch – but this decision only came recently due to our form, sponsorship situation and opportunities ahead that we couldn’t take.
“We communicated with the players early – a week before the registration deadline. Some chose to leave. But we didn’t cut the budget. We’re still trying to win games. Cutting the budget and tanking would be immoral.”
Owen speaks with passion and frustration after a week of criticism for requesting voluntary relegation. He stressed repeatedly that next season’s budget will remain the same, but will be put into infrastructure rather than “extortionate” wages for “left‑backs or right midfielders” at Isthmian Premier League level.
“I own about 65% now; I owned 85–90% then. I have never been remunerated for any of the shares I diluted,” he said. “I’ve done most of this job for free over the years.
“There’s this idea that I’ve made millions off YouTube, but I really haven’t. I haven’t done anything on my channel in eight years. That’s where I used to make my money, but I put Hashtag first.
“I’m not struggling. But the people we’re up against are guys who have made a lot of money from other businesses and are enjoying a dalliance with football. Good luck to them. But we’re not that. We’re truly self‑funded.
“No one talks about the fact we have not, at any second in this decision, questioned reducing our women’s team budget. We decided to relegate our men rather than our women – how often does that happen?
“Our division will change, but in terms of our content and the way we try to revolutionise matchday experience, there’s never been a bigger change in Hashtag’s history. We want to get back to Step 3, but with a bigger fanbase.”