A decentralized autonomous organization (DAO) wishes to acquire the Denver Broncos of the National Football League (NFL). The “Buy the Broncos DAO” (BBD) aims to acquire the NFL team as a group and “put ownership in the hands of the fans.”
A newly formed DAO is interested in purchasing the Denver Broncos franchise.
The “Buy the Broncos DAO” (BBD) is a newly formed DAO that is following in the footsteps of other DAOs that have been formed in the last year. Last year, one DAO attempted to purchase a rare copy of the United States Constitution, but the Constitution Dao did not win the auction. DAO, an NFT art collective, purchased Wu-Tang Clan’s mysterious unreleased album in October, and another DAO revealed this year its attempt to purchase the infamous One Bel Air 105,000-square-foot mega mansion.
The BBD project revealed to CNBC reporter MacKenzie Sigalos on Saturday that the DAO hopes to acquire the Denver Broncos football franchise. Sean O’Brien, one of the organizers behind the BBD effort, spoke with CNBC’s Sigalos.
“We know it sounds crazy, but it’s also kind of badass,” O’Brien told the reporter. “The goal is to create an infrastructure that allows fans from all walks of life to become owners of the Denver Broncos.”
BBD is attempting to raise $4 billion in order to complete the purchase of the NFL team. The group has a Twitter account called @buythebroncos, which has over 800 followers at the time of writing. BBD also has a website where it explains its mission and how anyone can participate in the DAO.
The DAO’s website emphasizes that if the DAO fails to fulfil its mission, investors will be able to recover their funds. “If we are unable to purchase all or a portion of the Broncos, you will have options for reimbursement,” the BBD web portal’s FAQ states.
Colorado Governor Jared Polis has stated that he would be delighted to assist the DAO’s efforts.
Interestingly, MacKenzie Sigalos’ report also mentions that Colorado governor Jared Polis expressed his support for the idea to attendees at the ETH Denver conference. “I’d be thrilled to be a part of it,” Polis said at the ETH Denver event. “The challenge will be that it will require a large sum of money… but you know what, if your imagination is big enough, it can happen.” And anything I can do to help make it happen, I’d be delighted to do,” Colorado Governor John Hickenlooper added.
While BBD is attempting to raise $4 billion in order to acquire the Denver Broncos, ESPN reports that the “price will likely set a record for any North American sports franchise.”
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.