Ex Manchester United players including Gary Neville and Paul Scholes have teamed up with Singapore billionaires Peter Lim and his son Kiat to create a decentralised autonomous organisation (DAO) that will enable fans to make sports-related investments.
According to Kiat Lim, the DAO’s goal is to connect sports enthusiasts globally.
Dubbed ‘CO92’, in honour of the successful ‘class of 1992’ side, the DAO intends to focus on strategic projects with football-related entities.
“We are currently already reviewing a range of professional football project opportunities, and will announce developments in the months ahead,” said Kiat.
“We are bringing many cumulative years of experience and personal high-level networks into this project to try to make it as big a success as it can be.”
The Lim family didn’t reveal the amount of money that will be involved or give any further details on the ownership structure.
“There will be a public token sale with no minimum amount needed to participate, but specifics of allocation will be announced in due course,” Kiat Lim added.
The management team for the DAO also include Darius Sit, the founder of QCP Capital, QCP Soteria Node founder Sherwin Lee, and Gabriel Yang, who previously worked at the Monetary Authority of Singapore.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.