Could you own a piece of the Denver Broncos? Cryptocurrency may make it possible for fans to own a piece of their favorite team.
As we know, one of the biggest storylines surrounding the Denver Broncos this offseason is not only the Aaron Rodgers sweepstakes (or potential lack thereof) but the impending sale of the team. As of the beginning of February, the franchise is up for sale and expected to be the largest sale of a franchise on the continent, being valued at about $4 billion.
Numerous names have already been linked to potential ownership of the Broncos, including Byron Allen and some familiar names in John Elway and Peyton Manning. Other notable names that have been linked to the team are Kanye West and Jeff Bezos, though there have been no significant updates that either is genuinely interested in making a bid on the team.
There is another group that has been confirmed to be interested in buying the team, but there are a few components to this potential group of backers:
You could be a potential owner of the Denver Broncos.
That is, if you have $50 to spare.
Businessman Sean O’ Brien has created a DAO (decentralized autonomous organization) full of people such as athletes, lawyers, software developers, and those that come from other walks of life. Though O’Brien is one leading the cause, the interesting catch about the concept of the DAO is there is no individual leader, it is like a team effort. This “team” uses cryptocurrency to track group activity as well as controlling income and distribution of income (per CNBC).
However, this group of crypto savvy-backers does not have a lot of time to raise the allotted $4 billion that is expected to be needed to secure the franchise, as the sale is expected to be completed prior to the beginning of the 2022 NFL season, and the annual league meetings are set to take place in just over a month.
If you have $50 to invest in cryptocurrency opportunity and are a fan of the Denver Broncos, O’Brien wants you to have the opportunity to own part of your favorite team.
O’Brien is a Broncos fan and insists that his main goal is for the team to be owned by those with an active interest in bettering the franchise. However, he knows that their group is up against NFL policy.
Though the Green Bay Packers also enjoy communal ownership, they are a franchise that is considered “grandfathered in”, and it is now required that at least 30% of the team to have one controlling owner. However, O’Brien is willing to combine with a larger shareholder if it is necessary.
Another factor at play here is that O’Brien’s DAO has the backing of Colorado governor Jared Polis, who enjoys the idea of the team being owned by fans. “Anything I can do to make it happen, I’d be happy to” (per Denver Post).
O’Brien knows there may be obstacles, especially with the NFL ownership policies, but all he wants is for his group and fans willing to invest to be able to be a part of the ownership: “Our goal is to completely purchase the Denver Broncos. But if there is any chance for us to be active at any level in a new ownership structure, we would take it” (per Denver Post).
Overall, with the times we are experiencing, it is no surprise that cryptocurrency is leading the way for fans to own a portion of a football team. Broncos fans who dabble in the cryptocurrency market, you may feel this to be a perfect opportunity.
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Broncos Country, I want to hear from you. How would you feel about this type of ownership format? Is this a direction you’d like to see the team take, or would you be more comfortable with a traditional ownership role?