Fantex Holdings Will Allow Fans to Buy, Sell Stock in Arian Foster, Pro Athletes
Ever wanted to share in your favorite athlete's success?
Soon, that dream will be a reality thanks to Fantex Holdings, which, according to The New York Times' Peter Lattman and Steve Eder, "will announce the opening of a marketplace for investors to buy and sell interests in professional athletes."
The new forum will open this fall with "a public offering for a minority stake" in Houston Texans Pro Bowl running back Arian Foster. Those who invest in shares will receive interest from a "stock linked to Foster's future economic success."
According to The Times' report, the player's financial success will be determined by contracts, endorsements and appearance fees.
Fantex Holdings' co-founder and chief executive Buck French asserts that the company has revolutionized the way stars attempt to build their brand: "Fantex is bringing sports and business together in a way never previously thought possible. We have built a powerful platform to help build the brands of athletes and celebrities."
Lattman and Eder declare that for the time being, Fantex is looking to take advantage of the NFL and fantasy football, which has gained tremendous popularity over the years.
French also states that the company hopes to sign more professional athletes in the near future and aims to dive into other areas including the music and entertainment industry, highlighting famous singers and actors as potential targets.
The company has received backing from well-known Silicon Valley executives as well as others from Wall Street and professional sports realm. Still, it remains to be seen how successful this bold endeavor will be. As The Times' report points out, there have been similar attempts made in the past, but nothing has ever taken shape when it comes to investments in real athletes and celebrities.
It does appear that Fantex is onto something, though. It has certainly picked out a quality first client in Foster, who has been nothing short of brilliant on the field over the past three-and-a-half seasons with Houston, rushing for nearly 5,000 yards since the start of 2010.
Foster, 27, went undrafted in 2009 but has demanded the spotlight through his on-field dominance since entering the league.
In addition to becoming a fantasy football favorite and a key piece to his team's offense, the star running back has appeared in commercials for Foot Locker and EA Sports' Madden video games among others, making him an even more popular and marketable sports figure to fans.
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