2 years ago
The U.S. National Football League’s (NFL) Denver Broncos squad is for sale, and a DAO mightiness beryllium the adjacent owner.
ESPN estimates the squad would merchantability for $4 billion, which is what the DAO (decentralized autonomous organization) is aiming to raise.
The effort is being led by Sean O’Brien, a 10-year seasoned of Cisco Systems’ ineligible department. O’Brien said the DAO volition spell unrecorded this week.
A decentralized autonomous enactment is an organizatrion represented by rules encoded arsenic a machine programme that is transparent, controlled by the enactment members and not influenced by a cardinal government.
According to O’Brien, the DAO would besides incorporated arsenic a cooperative, and participants successful the DAO would person a parallel ownership stock of the cooperative.
The squad has been tally by a spot since its owner, Pat Bowlen, died successful 2017. The NFL has signaled that it would similar a woody closed by the commencement of the 2022 season.
Wisconsin’s Green Bay Packers squad is owned by a assemblage cooperative, archetypal incorporated successful 1923 successful a operation akin to what the DAO would usage to acquisition the Denver Broncos.
In 1980, the NFL enactment successful caller rules that banned a “decentralized,” community-driven ownership that the Green Bay Packers usage (though the squad has an objection via a grandfathering clause).
Rules authorities that ownership indispensable beryllium led by a azygous idiosyncratic that has astatine slightest 30% equity successful the team, with insignificant exceptions for a household ownership structure. There is besides a bounds of 32 owners for 1 team, and income request to beryllium approved by the NFL.
In Canada, the Canadian Football League has 2 teams with a assemblage ownership structure: the Saskatchewan Roughriders, and Winnipeg Blue Bombers.
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