Last week saw the unveiling of plans for a new DAO-owned sailing team for SailGP, the global sailing series launched by Oracle’s Larry Ellison and Russell Coutts. But while sports DAOs (decentralized autonomous organizations) aim to democratize access to sports by enabling teams to be fan-owned, your average person might have more limited participation. To comply with regulations, owning a piece of this sailing team will only be open to wealthy accredited investors.
In SailGP each team represents a territory. Bernoulli | Locke is launching a fan-owned team for the Caribbean and Bermuda and hopes to have it ready for the start of the season in June 2023.
The idea of fan-owned teams is to enable people that follow a sport to participate in key decisions. In the case of the SailGP team, owners will be able to vote on a broad range of decisions, potentially including the team name and flag, athlete selection, boat livery, fan benefits, sponsorship, management, team business decisions and more.
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