The sale of the Denver Broncos could take a very interesting turn, if recent reports on a new potential bidder are true.
According to CNBC’s MacKenzie Sigalos, a group of crypto enthusiasts led by Sean O’Brien are attempting to raise $4-billion through a a decentralized autonomous organization (or DOA) in order to buy the Broncos franchise.
Reports that Devner’s football team would be up for sale began to surface at the conclusion of the 2022 season, and a couple of groups were expected to lead the bidding, including competing groups that include John Elway and Peyton Manning.
It now appears as though the former Broncos and their fellow investors could have some stiff competition on their hands, as Sigalos appears to be taking a page out of the Green Bay Packers’ playbook in an effort to allow a wide range of individuals to get their piece of an NFL franchise.
Via CNBC:
The Denver Broncos are up for sale, and a group of crypto enthusiasts is aiming to raise more than $4 billion using a decentralized autonomous organization, or DAO, to make it their own.
You can think of a DAO like a group of individuals acting in concert with no single leader. Unlike a normal pool of investors, DAOs rely on cryptocurrency technology to track and validate participation in the group, as well as to facilitate the inner-workings of how to raise and distribute large amounts of cash. This group includes an eclectic mix of attorneys, accountants, software developers, pro athletes, and at least one mathematician.
O’Brien, who is said to be spearheading the cause, added, “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.”
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We have seen these types of DOA’s ban together for other purchases recently, but an NFL team would be a whole new level to this sort of investment–especially considering the fact that buying the Broncos won’t be cheap, as it’s expected to run the eventual buyer upwards of $4-billion.
