NEW YORK, Aug. 14, 2018 /PRNewswire/ -- The Crown League – the first professional fantasy football league owned by the public, managed by experts and run entirely on blockchain technology – has announced its first token offering for the new sports paradigm that blurs the line between gaming and investing, fans and owners. The announcement was made by Founder and Chief Executive Officer Dan Nissanoff.
The Crown League is launching the presale of its league security tokens – the Crown League token (CRL) – in a Reg D SAFT offering to accredited investors and a Reg S SAFT Offering to international investors. This is expected to be followed by an offering in which the franchises' security tokens will be sold to the public. The offering is being led by Americas Executions, LLC, "AmerX," a FINRA regulated investment bank.
The Crown League Inaugural Draft is scheduled for the summer of 2019 followed by the launch of its inaugural season in September 2019. Specific franchise markets, general manager appointments and other details are planned to be announced this fall.
Investors can visit TheCrownLeague.com for more details on The Crown League, this initial pre-sale offering and informational videos on how the league will operate.
FOUNDERS, EXECUTIVE TEAM AND ADVISORS
"The Crown League will fundamentally change the way fans invest their passion as well as their financial resources as owners of this league or the franchises," said Nissanoff. "My co-founders, Derek Siskin and Mat Sposta, and I, as well as our entire executive team and Board of Advisors, are incredibly proud of the work that has been done up to this point to ensure The Crown League's success."
The Crown League's executive ranks and Board of Advisors are filled with respected and successful individuals from across the tech, finance, gaming and sports industries. The list of executive team members and advisors can be accessed via thecrownleague.com/our-founders/.
HOW THE CROWN LEAGUE WORKS
The Crown League's structure and operations will be similar to those of our nation's iconic sports enterprises with a league collectively owned by its franchises, professional management, and a dynasty structure to develop deep player rosters over time. The league intends to launch with twelve inaugural franchises representing key geographical markets throughout the United States.
Each franchise will be led by a seasoned, high-profile GM who together with a dynamic front-office staff, will be responsible for the day-to-day operations of their teams. These teams will be constructed at a live inaugural draft to build legacy franchises - with all subsequent drafts restricted to incoming rookies and free agents. Franchises within The Crown League will be fractionally-owned by large communities of individuals who will collectively govern their teams as well as share in their profits and value appreciation.
While GMs will be responsible for their team's decision-making, they'll ultimately be accountable to their owners who will collaborate to influence strategy and vote together on pivotal matters pertaining to their team, including the retention or replacement of their GMs.
TOKENOMICS AND REVENUE GENERATION
Financial interests in both the league and franchises will be represented by securitized, digital tokens that feature profit-sharing rights. It is anticipated that these tokens will be listed and traded on regulated ATS exchanges.
Franchises will compete each season for their share of a pre-designated allocation of the league's tokens, and receive distributions based on several factors including winning weekly matchups, achieving predefined statistical benchmarks, and how they place at the end of each season.
Each year, teams will transfer a portion of their earnings to their owners in a dividend-like distribution, enabling them to receive their share of any profits generated from traditional sports revenue streams including sponsorships, advertising, merchandising, licensing, event ticket sales, and more. The better a franchise performs, the more league tokens it will earn. The more league tokens it earns, the larger the distribution to its owners as they receive a greater share of the league profits.
– CRL –
For more information on The Crown League, go to TheCrownLeague.com
SOURCE The Crown League