a DAO owned pro sports club; what could go wrong?

a case study thread 🧵

the conclusion will surprise you

@krausehouse became the world's 1st DAO to buy a pro sports team, the 
Ball Hogs

luckily the ownership group was open minded to bringing a native DAO into the ownership group

they built a novel structure of NFTs to facilitate the deal

every league (best thought of as a collection of owners that appoint an exec to operate) & owner think about ownership differently

the phrase we've heard from the NBA to EPL to MLP is the same: "one throat to choke"

the owners collective want to be able to hold a single individual accountable to make changes to protect the collective

the @bostonceltics (obligatory F Boston) went public in '86 only to go private again in '02

fun fact: they opened at $18.50 & closed at $27

there were mixed feelings about the approach. there we gimmicks like a "Boston Celtics Owner Barbershop" that didn't go over well w/ the majority owners

more details:

the @bostonceltics (obligatory F Boston) went public in '86 only to go private again in '02

fun fact: they opened at $18.50 & closed at $27

there were mixed feelings about the approach. there we gimmicks like a "Boston Celtics Owner Barbershop" that didn't go over well w/ the majority owners

more details: https://www.barrons.com/articles/SB1045870898333098143