Another group has entered the fray for ownership of the Denver Broncos — representing not just a new bidder, but an entirely new concept.
BuyTheBroncos, a decentralized autonomous organization (DAO), is looking to raise over $4 billion to purchase the team.
The DAO, which uses blockchain technology to verify ownership and establish governance rules, includes a group of attorneys, accountants, software developers, and pro athletes.
It is led in part by former Cisco attorney Sean O’Brien.
The DAO could conflict with NFL bylaws, which require every ownership group to have a principal owner with a 30% stake and cap groups at 24 people.
The sale is expected to break the record for the largest sports team purchase in U.S. history.
