If the sale goes through, the Broncos will join the Green Bay Packers as the only team out of 32 teams in the US National Football League (NFL).
Denver Broncos of the US National Football League It’s up for sale, and it’s unlikely that the DAO could become the next owner of this football team.
ESPN forecaststhat this team will sell for $4 billion This is the price the DAO (decentralized autonomous organization) aims for.
The effort is led by Sean O’Brien, who has 10 years of experience in Cisco Systems’ legal department, with O’Brien saying it will launch a DAO this week.
According to O’Brien – DAO will continue to operate as a cooperative. that all DAO members are jointly owned.
The Denver Broncos have been in charge of the NFL since owner Pat Bowlen’s death in 2017, and the NFL has hinted that a deal with the team will end in early 2022.
The community owns the Green Bay Packers from Wisconsin. It was first established in 1923 in a structure similar to what the DAO would use to buy the Denver Broncos.
In 1980, the NFL made a new rule stating that the NFL “forbids” proprietary ownership. “decentralized (centralized)” that is shared by the community as the Green Bay Packers use (although teams still have exceptions through grandfathering clause*
The rule states that ownership must be owned by a single person with a 30% stake in the team, with few exceptions. In terms of ownership with a family structure It also limits the number of owners to only 32 per team. And sales must only be approved by the NFL.
In Canada, the Canadian Football League has two soccer teams structured in community ownership: the Saskatchewan Roughriders and the Winnipeg Blue Bombers.
* grandfathering clause is an exception that allows a person or juristic person able to carry out activities or operations that have been approved before the implementation of new regulations or laws. It can be permanent, temporary or limited.
refer : LINK
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