A group of crypto enthusiasts wants to buy the Broncos

NFL: NOV 28 Chargers at Broncos
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The Broncos are for sale. Plenty of people would like to buy the team.

In one case, literally. Via MacKenzie Sigalos of CNBC, a group of cryptocurrency enthusiasts hopes to raise $4 billion to buy the team.

“We know it sounds a bit crazy, but it’s also a bit badass,” said Sean O’Brien, a lawyer who previously worked for Cisco. “The purpose essentially is to establish an infrastructure so that fans from all walks of life can be owners of the Denver Broncos.”

Here’s the biggest problem, which is never addressed in the article. One person must acquire control of the team by paying 30 percent of the purchase price. That person likewise needs to have the money to operate the team. Also, all other owners must be approved by the NFL. Unless the NFL fundamentally changes its ownership rules, the idea floated in this article can never happen.

Yes, the league reportedly may craft a one-time exception to allow a Black owner to acquire a controlling stake in the Broncos. But that’s a far cry from basically creating a publicly-held company with none of the safeguards that would apply to the issuance of stock that actually rises and falls in value.

So, basically, it’s not happening.

34 responses to “A group of crypto enthusiasts wants to buy the Broncos

  1. Jay-Z and Tom Brady should buy the Dolphins. They’d instantly add 50% to any team’s value that they owned.

  2. Cryptocurrencies are all going to zero in the near future, this is simply a replay of the late 90s dot.com boom and bust.
    They are backed by NOTHING!

  3. So if it happened we’d all just be waiting for the whole thing to fall apart. It would be just like watching the Broncos on the field.

  4. I have been saving magic beans for 30 years…time to cash them in and buy those Broncos.

  5. They are backed by NOTHING!

    Neither is “real” money, they stopped basing it on actual gold ages ago(7-5-33 to be exact). It only has value because we agree that it does

  6. An attempt to bilk people out of their crypto assets based on a BS proposition with no legal cover or forethought for the future.

    So basically the entire crypto and NFTs market in a nutshell.

  7. lifeistoughtrustmeimadolphinsfan says:

    February 20, 2022 at 3:21 pm

    Jay-Z and Tom Brady should buy the Dolphins. They’d instantly add 50% to any team’s value that they owned.
    ———
    I’m guessing life is tough because your not very good at math. They would both add popularity and value but NOWHERE near 50% to a team value.

  8. Considering Mahomes owns them already, he’s essentially going to dump on anyone wanting a slice of that pie.

  9. “They are backed by NOTHING!” If you think you are too late to the crypto game, think again. At this moment, this comment has 57 thumbs up vs 13 thumbs down which illustrates how many people don’t understand them or their value. In the last crypto boom in 2017, people were saying the same thing and felt vindicated when bitcoin “dropped” to $4,000. The problem is that have volatility is not the same thing as something having “no value”. In 2017 roughly 1% of the worlds population owned crypto assets. Today it’s estimated at 3.9% and look how many people still don’t understand it and don’t understand network effects or metcalfe’s law. Soon we’ll get to 5%, 10%, 25% and over the course of 20 years it will be over 75% of the worlds population will own crypto assets (much like the internet has spread around the world). My point is, if you feel like you’ve missed the boat, you’re still early as long as you see ignorant comments like the one I started this post with get so much support…

  10. I have an NFT of a clown sitting on a donkey. If the league will honor that as my 30% stake I am in.

  11. What a joke this sale is becoming. Too bad his own kids couldn’t of just took over and let Peyton Manning becoming controlling owner.
    Saying that, I miss Pat Bowlen!

  12. twilightzone says:
    February 20, 2022 at 5:09 pm
    “They are backed by NOTHING!” If you think you are too late to the crypto game, think again. At this moment, this comment has 57 thumbs up vs 13 thumbs down which illustrates how many people don’t understand them or their value. In the last crypto boom in 2017, people were saying the same thing and felt vindicated when bitcoin “dropped” to $4,000. The problem is that have volatility is not the same thing as something having “no value”. In 2017 roughly 1% of the worlds population owned crypto assets. Today it’s estimated at 3.9% and look how many people still don’t understand it and don’t understand network effects or metcalfe’s law. Soon we’ll get to 5%, 10%, 25% and over the course of 20 years it will be over 75% of the worlds population will own crypto assets (much like the internet has spread around the world). My point is, if you feel like you’ve missed the boat, you’re still early as long as you see ignorant comments like the one I started this post with get so much support…

    ==============================================================

    History is still the best teacher. Look at the Dutch tulip boom/bust in the 1619 timeframe…same mania as crypto now.

  13. I’d only take their offer if they converted to actually money. Bitcoin is no different than a stock, and you can’t buy a team with “Microsoft” stock, only real money. Could be disastrous if the Broncos and NFL accepted that imaginary money. Didn’t OBJ end up making a salary of $35,000 because of his trendy “bitcoin” payoff from the Rams?

  14. bajer says:
    February 20, 2022 at 4:06 pm

    They are backed by NOTHING!

    Neither is “real” money, they stopped basing it on actual gold ages ago(7-5-33 to be exact). It only has value because we agree that it does

    ********************

    Actually oil and the world trade market is based on the dollar, that’s a lot of backing. Please remember we go to war, assassinate leaders, and have even bought out foreign stock markets to protect this. FYI – The Tokyo Stock Exchange was created after a prominent US bank bought out the Nikkei after a 2011 earthquake and tsunami.

    I don’t see the NFL owners approving the sale of a franchise for lines on an Excel spread sheet.

  15. “We know it sounds a bit crazy, but it’s also a bit badass”

    People who actually speak like this shouldn’t be put in charge of anything, or even be allowed out of the house.

  16. Assuming we are talking about paying the purchase price, I think crypto types are way off-base, but it doesn’t matter what I think or crypto enthusiasts think.

    What matters is what the seller wants. I find it difficult to believe seller will accept crypto instead of cash.

  17. markdavisbarber says:
    “People who actually speak like this shouldn’t be put in charge of anything, or even be allowed out of the house.”

    Elon Musk says hi with a not a flamethrower.

  18. All-American Voltron says:
    February 20, 2022 at 7:04 pm
    I’d only take their offer if they converted to actually money. Bitcoin is no different than a stock,

    ———
    Actually at least some cryptos can be used like cash. For example, many businesses (like Tesla) accept Bitcoin. And if governments like Canada insist on freezing the bank accounts of people who dissent with the Government, many people will abandon country based currencies and banks in favor of crypto

  19. numbers says:
    February 20, 2022 at 8:39 pm

    markdavisbarber says:
    “People who actually speak like this shouldn’t be put in charge of anything, or even be allowed out of the house.”

    Elon Musk says hi with a not a flamethrower.

    $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

    Please get your quote straight. I did not post that, I believe that kevpft did.

    OK so riddle me this? If cryptocurrency and NFT are to be used as or replace the dollar. Why is the value of cryptocurrency based on the dollar? Also why is a group of cryptocurrency enthusiasts that can raise $4 billion worth of cryptocurrency needed?

  20. Cute! I believe the NFL requires legal tender backed by the full faith and credit of the United States of America!

  21. In addition to player salaries, what would be an estimated annual cost to operate an NFL team (yes, some teams are much more extravagant & incur higher costs than others)? Total average cost to run a team annually?

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