Baron Davis, an entrepreneur, investor, and former All-Star NBA player, has become the first professional athlete to participate as an investor in the new Fan Owned SailGP Team.
Davis sees this investment as a powerful way to engage the community, giving fans a stake in ownership and fostering a strong sense of ownership culture.
As a former athlete, Baron Davis is empowered by the idea of ownership being shared with fans and believes it marks an exciting new chapter in the future of sports. He is committed to actively participating in the ownership community to ensure the success of the first-ever fan-owned SailGP team and looks forward to seeing the team on the water and competing in races.
SailGP Fan-Owned Team
The Fan-Owned SailGP Team has made history by becoming the first professional sailing team to offer fans the opportunity to invest and participate as owners, allowing up to 1,950 investors to be part of the team.
Investors will enjoy a unique participatory ownership experience, gaining access to VIP race weekends, team meetings, and even having a say in team decisions through a decentralized autonomous organization (DAO) based on the NEAR Protocol. This innovative approach empowers fans to vote on crucial proposals, including the team’s name and electing a manager.
The team aims to join the prestigious SailGP league as its 11th team, which has been gaining popularity with its recent Oracle Los Angeles Sail Grand Prix and upcoming events in various iconic destinations worldwide. Set to debut in Season 5 (2024), the Fan Owned SailGP Team will be based in Bermuda.
Fans who wish to become shareholders must be accredited investors and commit a minimum investment ranging from $5,000 to $200,000. The investment will be tokenized on the NEAR Protocol, allowing potential liquidity and authentication of ownership. The launch of the Fan Owned SailGP Team is contingent on the successful closing of the transaction.
