Billion Dollar Browns
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Billion Dollar Browns launches bid to buy Cleveland Browns
Crowdsourcing campaign aims to raise record $1 Billion
CLEVELAND, SEPT. 10, 2015 – A fan-led organization is launching a crowdfunding campaign aimed at raising more than $1 Billion to purchase the venerable Cleveland Browns football team.
The campaign will run through the entire NFL season.
The revolutionary proposal – for fans to raise more than a billion dollars to buy and manage the team – is run through this popular and transparent crowdfunding site and administered by AH Liberty, a veteran-run consulting firm.
Billion Dollar Browns is looking to raise $1 million in initial fundraising by accepting $1 each from a million fans.
That initial investment is predicated on the understanding the individual investor will provide $1,000 once the initial million is raised.
Billion Dollar Browns aims to overturn the current relationship between ownership and fans in professional sports.
“This is not a statement to disparage or repudiate the current ownership personally or professionally,” said Bryan Mitchell, AH Liberty, Chief Operating Officer and Billion Dollar Browns campaign organizer. “This is a campaign to allow the people most passionate about the Cleveland Browns to have a more direct impact in the direction and management of the team.”
“We respect the work of the current ownership and past owners, but feel the team would be best served under the stewardship of its fans.”
The initial investor, Caiden Mitchell, spoke about his excitement to become an owner of the one of professional football’s greatest legacy brands.
“Owning a football team is not something that should be only for the wealthy,” Caiden Mitchell said. “Just like I can buy and invest in Apple because I love my iPod or Microsoft because I am crazy about Xbox, I should be able to invest in and own a piece of my beloved Cleveland Browns.”
The Crowdfunding Industry Report by Massolution put out data showing the overall crowdfunding industry has raised $2.7 billion in 2012, across more than 1 million individual campaigns globally.
For additional information, www.billiondollarbrowns.com
Facebook: https://www.facebook.com/pages/Billion-Dollar-Browns/1642129992702579
Twitter: @BDBfund
THE BILLION DOLLAR BROWNS CHARTER
1. Fans who donate $1 are agreeing to pledge $1000 toward the purchase of the team if this campaign raises $1million
2. Fans who buy into the team are NOT searching for an investment. There will NOT be dividends, or stock splits or buying back shares or any other financial instrument designed to return value to the shareholder. There will only be investment in the team, its facilities and its sustained footprint in Cleveland.
3. No fan shall hold more than a single share. There will be NO majority or minority owners. All buyers will own equal parts of the team.
4. ALL finances associated with this campaign and the team shall be 100 percent transparent. Once the initial $1million is raised, a trusted and reputable accounting firm as well as legal counsel will be established to ensure strict financial accountability. A full financial accounting report will be published on this Web site every 90 days. A third- party accounting firm will be hired to conduct an annual audit to ensure the veracity of the quarterly reports and provide external counsel.
5. The team shall be run by a 13-person board of directors consisting of the following:
a. 6 great football minds from Ohio: High school and college colleges with a passion for the game, the Browns and for building a strong football organization
b. 7 superb civic leaders: Successful leaders from business, education, non-profits, local governments
c. All members shall be elected and serve rotating three-year terms
d. No one shall serve on the board more than twice
e. All shareholders will be able and encouraged to vote for the board of directors
f. The board of directors shall hired a General Manager who runs the team
6. All owners will have a single vote to elect the board of directors.
7. There will be additional rounds of fundraising to provide capital for support operations under the assumption the new Cleveland Browns will NEVER accept public funding. The City of Cleveland and Cuyahoga County face serious challenges that demand all tax revenue is focused on education, infrastructure, public safety and economic development. The Billion Dollar Browns will self-finance all future projects.
8. All employees will earn no less than $13 per hour at Cleveland Browns Stadium.
9. Once the current contract expires, the stadium will not offer naming rights. It will be known as Cleveland Browns Stadium.
This campaign is being run by AH Liberty, a veteran-run consultancy group. You can learn more about us here: http://ahliberty.com/
The firm and this campaign are run by Navy veterans Bryan Mitchell and Chris Jeter.
We are intent on raising the admittedly audacious goal, but will donate all of the funds collected to Cleveland area charities if the goal is not reached.
We will crowdsource the exact charities via our facebook page at the end of the NFL season to determine which charities are awarded our funds.
Thank you for your faith in this campaign!!
Crowdsourcing campaign aims to raise record $1 Billion
CLEVELAND, SEPT. 10, 2015 – A fan-led organization is launching a crowdfunding campaign aimed at raising more than $1 Billion to purchase the venerable Cleveland Browns football team.
The campaign will run through the entire NFL season.
The revolutionary proposal – for fans to raise more than a billion dollars to buy and manage the team – is run through this popular and transparent crowdfunding site and administered by AH Liberty, a veteran-run consulting firm.
Billion Dollar Browns is looking to raise $1 million in initial fundraising by accepting $1 each from a million fans.
That initial investment is predicated on the understanding the individual investor will provide $1,000 once the initial million is raised.
Billion Dollar Browns aims to overturn the current relationship between ownership and fans in professional sports.
“This is not a statement to disparage or repudiate the current ownership personally or professionally,” said Bryan Mitchell, AH Liberty, Chief Operating Officer and Billion Dollar Browns campaign organizer. “This is a campaign to allow the people most passionate about the Cleveland Browns to have a more direct impact in the direction and management of the team.”
“We respect the work of the current ownership and past owners, but feel the team would be best served under the stewardship of its fans.”
The initial investor, Caiden Mitchell, spoke about his excitement to become an owner of the one of professional football’s greatest legacy brands.
“Owning a football team is not something that should be only for the wealthy,” Caiden Mitchell said. “Just like I can buy and invest in Apple because I love my iPod or Microsoft because I am crazy about Xbox, I should be able to invest in and own a piece of my beloved Cleveland Browns.”
The Crowdfunding Industry Report by Massolution put out data showing the overall crowdfunding industry has raised $2.7 billion in 2012, across more than 1 million individual campaigns globally.
For additional information, www.billiondollarbrowns.com
Facebook: https://www.facebook.com/pages/Billion-Dollar-Browns/1642129992702579
Twitter: @BDBfund
THE BILLION DOLLAR BROWNS CHARTER
1. Fans who donate $1 are agreeing to pledge $1000 toward the purchase of the team if this campaign raises $1million
2. Fans who buy into the team are NOT searching for an investment. There will NOT be dividends, or stock splits or buying back shares or any other financial instrument designed to return value to the shareholder. There will only be investment in the team, its facilities and its sustained footprint in Cleveland.
3. No fan shall hold more than a single share. There will be NO majority or minority owners. All buyers will own equal parts of the team.
4. ALL finances associated with this campaign and the team shall be 100 percent transparent. Once the initial $1million is raised, a trusted and reputable accounting firm as well as legal counsel will be established to ensure strict financial accountability. A full financial accounting report will be published on this Web site every 90 days. A third- party accounting firm will be hired to conduct an annual audit to ensure the veracity of the quarterly reports and provide external counsel.
5. The team shall be run by a 13-person board of directors consisting of the following:
a. 6 great football minds from Ohio: High school and college colleges with a passion for the game, the Browns and for building a strong football organization
b. 7 superb civic leaders: Successful leaders from business, education, non-profits, local governments
c. All members shall be elected and serve rotating three-year terms
d. No one shall serve on the board more than twice
e. All shareholders will be able and encouraged to vote for the board of directors
f. The board of directors shall hired a General Manager who runs the team
6. All owners will have a single vote to elect the board of directors.
7. There will be additional rounds of fundraising to provide capital for support operations under the assumption the new Cleveland Browns will NEVER accept public funding. The City of Cleveland and Cuyahoga County face serious challenges that demand all tax revenue is focused on education, infrastructure, public safety and economic development. The Billion Dollar Browns will self-finance all future projects.
8. All employees will earn no less than $13 per hour at Cleveland Browns Stadium.
9. Once the current contract expires, the stadium will not offer naming rights. It will be known as Cleveland Browns Stadium.
This campaign is being run by AH Liberty, a veteran-run consultancy group. You can learn more about us here: http://ahliberty.com/
The firm and this campaign are run by Navy veterans Bryan Mitchell and Chris Jeter.
We are intent on raising the admittedly audacious goal, but will donate all of the funds collected to Cleveland area charities if the goal is not reached.
We will crowdsource the exact charities via our facebook page at the end of the NFL season to determine which charities are awarded our funds.
Thank you for your faith in this campaign!!
Organizer
Bryan Mitchell
Organizer
Avon Lake, OH
