Another group has entered the fray for ownership of the Denver Broncos — representing not just a new bidder, but an entirely new concept.
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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.
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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.
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The sale is expected to break the record for the largest sports team purchase in U.S. history.
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