planomateo
Member
Not sure I like where this is going...
Imagine having acquired a financial interest in LeBron James, Peyton Manning or Roger Federer early in their careers.
A new company wants to make this fantasy a reality for the next generation of superstars.
On Thursday, Fantex Holdings will announce the opening of a marketplace for investors to buy and sell interests in professional athletes. The start-up, backed by prominent executives from Silicon Valley, Wall Street and the sports world, plans to create stocks tied to the value and performance of an athlete’s brand.
It will have its debut with an initial public offering for a minority stake in Arian Foster, the Pro Bowl running back of the Houston Texans. Buying shares in the deal will give investors an interest in a stock linked to Mr. Foster’s future economic success, which includes the value of his playing contracts, endorsements and appearance fees.
Buck French, the company’s co-founder and chief executive, said Fantex hoped to sign additional players in football and other sports, as well as expand into other talent areas like pop singers and Hollywood actors.
“Fantex is bringing sports and business together in a way never previously thought possible,” Mr. French said. “We have built a powerful platform to help build the brands of athletes and celebrities.”
For now, the offering is trying to capitalize on the immense popularity of the National Football League and fantasy football, in which fans pick individual players and get points for touchdowns, interceptions and other notable plays.
Read the rest of the article here > http://dealbook.nytimes.com/2013/10/17/want-a-piece-of-a-star-athlete-now-you-really-can-buy-one/
Imagine having acquired a financial interest in LeBron James, Peyton Manning or Roger Federer early in their careers.
A new company wants to make this fantasy a reality for the next generation of superstars.
On Thursday, Fantex Holdings will announce the opening of a marketplace for investors to buy and sell interests in professional athletes. The start-up, backed by prominent executives from Silicon Valley, Wall Street and the sports world, plans to create stocks tied to the value and performance of an athlete’s brand.
It will have its debut with an initial public offering for a minority stake in Arian Foster, the Pro Bowl running back of the Houston Texans. Buying shares in the deal will give investors an interest in a stock linked to Mr. Foster’s future economic success, which includes the value of his playing contracts, endorsements and appearance fees.
Buck French, the company’s co-founder and chief executive, said Fantex hoped to sign additional players in football and other sports, as well as expand into other talent areas like pop singers and Hollywood actors.
“Fantex is bringing sports and business together in a way never previously thought possible,” Mr. French said. “We have built a powerful platform to help build the brands of athletes and celebrities.”
For now, the offering is trying to capitalize on the immense popularity of the National Football League and fantasy football, in which fans pick individual players and get points for touchdowns, interceptions and other notable plays.
Read the rest of the article here > http://dealbook.nytimes.com/2013/10/17/want-a-piece-of-a-star-athlete-now-you-really-can-buy-one/
