When a group of cryptocurrency enthusiasts announced their plans to launch a decentralized autonomous organization (DAO) in an effort to buy the Denver Broncos earlier this year, Broncos Wire assumed it was more of a publicity stunt than an actual attempt to purchase the NFL franchise.
Sean O’Brien, one of the group’s leaders, has since assured Broncos Wire that it’s no gimmick — the group is very serious and well-connected. Their investors include professional athletes, lawyers, accountants, economists and developers — and if all goes to plan, any fan of the team who wants to join.
“Our goal is responsible ownership in the hands of Broncos Country in a way that is sustainable for the long-term well-being of the Denver Broncos,” O’Brien said.
The group has even drawn support from Colorado Gov. Jared Polis.
“I would be excited to be part of it myself,” Gov. Polis told CNBC in February.
The group will soon launch “Buy the Broncos,” a DAO hosted on XDAO that aims to raise enough money to buy the team. And if their bid is unsuccessful, BuyTheBroncos.com says fans “will have options to be reimbursed.”
The Broncos are expected to be sold for more than $4 billion. The team is hoping to complete a sale before the start of the 2022 season.
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