NBA All-Star Baron Davis Invests in Fan Owned SailGP Racing Team

Former professional basketball player, entrepreneur joins innovative pro sports-ownership movement

JACKSON, Wyo., July 25, 2023 /PRNewswire/ -- 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 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."

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.

To learn more, visit FanOwnedSailGPTeam.com. 

About FANVEST.io
FANVEST.io by Bernoulli | Locke is a place for fans to "invest in what they love." FANVEST.io offers new opportunities for "passion-investing," allowing investors to create a portfolio that reflects their passions and interests – including experiential benefits. The team at FANVEST.io has led hospitality, music, entertainment and sports partnerships with many top properties and IP.

About SailGP 
SailGP is the world's most exciting racing on water. The global championship features national teams battling in short, intense races at iconic stadium-style venues across the globe. The high-tech, high-speed action features sailing's best athletes racing in identical hydrofoiling F50 catamarans, flying at speeds approaching 100 km/h. SailGP also races for a better future, championing a world powered by nature.

Media:
For FANVEST.io – [email protected]
For Baron Davis – [email protected]

*This press release is solely for informational purposes. Any offer to sell or solicitation of an offer to buy will be made only to purchasers who establish they are accredited investors under Section 506(c)(3) of the requirements of the U.S. Securities Act of 1933, as amended, and compliance with the applicable securities laws of any other jurisdiction in which such tokens may be offered or sold by the company. Equity tokens will only be sold to purchasers who have established their accredited status and executed required documentation.

SOURCE Bernoulli | Locke

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