A DAO Is Raising $4 Billion USD to Buy the Denver Broncos
The crypto enthusiasts are dubbed BuyTheBroncosDao.
NFL team Denver Broncos is officially up for sale and a group of crypocurrency enthusiasts are planning on putting their hat in the ring.
A decentralized autonomous organization, more commonly known as a DAO is raising the $4 billion USD in capital needed to acquire the Broncos. One of the major players spearheading the efforts is Sean O’Brien, who previously spent a decade in Cisco’s legal department. He said, “We know it sounds a bit crazy, but it’s also a bit badass. The purpose essentially is to establish an infrastructure so that fans from all walks of life can be owners of the Denver Broncos.”
O’Brien confirms that the DAO does not officially go live until the first week of March. Dubbed the BuyTheBroncos DAO, they are willing to pay top dollar for the franchise. According to ESPN, the Broncos are valued at just under $4 billion USD and is set to make for the largest price tag in the history of North American sports. The DAO claims that if they successfully bought the franchise, it would give people partial ownership of the team and they will be given the ability to control how the team is governed.
Should the DAO fail to acquire the franchise, they still hope to raise at least 25% of the funds and coordinate with additional investors to make up for the rest of the $4 billion USD price tag.
In other sports news, LeBron James makes it clear that he intends to play his final NBA season with son Bronny.
