Ex-Man United players including former England stars Neville and Scholes form sports venture with rich Singaporeans

Retired Manchester United midfielder Paul Scholes, 39, attends a press conference during a promotional trip in Singapore on March 22, 2014. He and former teammate Gary Neville are teaming up with rich Singaporeans to create an organisation that will allow fans to make sports-related investments alongside them. - AFP

SINGAPORE, Feb 7 (Bloomberg): Former Manchester United football players including Gary Neville and Paul Scholes are teaming up with wealthy Singaporeans Peter Lim and his son Kiat Lim to create an organisation that will allow fans to make sports-related investments alongside them.

The participants are creating a decentralized autonomous organization, or DAO -- an entity that is meant to have a distributed governance model and brings together participants with set goals or ideas -- that will aim to connect sports enthusiasts globally, according to a statement Monday.

CO92 DAO, named after the Manchester United squad of 1992, will focus on strategic projects with football-related entities.