NBA Player Invests In Fan Owned SailGP Team
Two-time all-star NBA player Baron Davis is the “first professional athlete participant and investor” in the Fan Owned SailGP Team.
A spokesperson said, “FANVEST.io, a place for fans to “invest in what they love,” today announced entrepreneur, investor and two-time All-Star NBA player Baron Davis is the first professional athlete participant and investor in its new Fan Owned SailGP Team.”
“Investing in culture and having a stake in ownership alongside fans is the strongest way to engage a community,” Davis said. “As a former professional athlete, it’s empowering to see ownership handed over to the fans. It’s an exciting next chapter for the future of sports, and I plan on being active in the ownership community to get the first-ever fan owned SailGP team on the water and racing.”
The spokesperson said, “The new Fan Owned SailGP Team is the first professional sailing team to allow fans to invest and participate as owners [up to 1,950 investors]. Investors enjoy participatory ownership with VIP race weekends, team meetings and team governance through a hybrid decentralized autonomous organization [DAO], leveraging the NEAR Protocol that allows voting on key proposals, from the name of the team to electing a manager.
“The new Fan Owned SailGP Team aims to be the 11th team in the sail racing league, which held its first-ever Oracle Los Angeles Sail Grand Prix earlier this month and will continue with events in iconic destinations globally. The Fan Owned SailGP Team is expected to premiere in Season 5 [2024], based in Bermuda.
“Fans can now invest in the Fan Owned SailGP Team alongside Davis. To become a shareholder, fans must be an accredited investor and commit from $5,000 to $200,000. The investment is tokenized on the NEAR Protocol for potential liquidity and authentication of ownership. The launch of the Fan Owned SailGP Team is tied to the closing of the transaction.”
“Baron’s experience nurturing the innovative developments of new technology and athletic accomplishments aligns perfectly with our goal to transform the professional sports team ownership into a unifying opportunity for athletes and fans, creating a high-performance team,” Bernoulli | Locke CEO and Founder David Palmer said.
“As we look to develop the Fan Owned SailGP Team image and unveil more progression along our journey, Baron will serve as an integral part in the next era of sports ownership.”
The spokesperson said, “Davis is widely praised for his entrepreneurial work across tech and Web3 sectors. His company, Baron Davis Enterprises, has launched businesses including The Black Santa Company, Business Inside the Game (BIG) and More Than Us. His latest venture, SLiC Images, is a photo and video rights management platform that aims to empower athletes-turned-creators through foundational Web3 tools for community engagement.
“Through his business ventures, Davis continues his mission of combining creative talent with original publication and production to provide educational and empowering stories that appeal to global audiences of all ages.”
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