Reporting Garret Heinrich
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This might just be real-life Fantasy Football times 12.
Houston Texans running back Arian Foster is going to be the first athlete to go public through a new company called Fantex Holdings.
On Thursday, according to CBS Sports, anyone over the age of 18 can buy stock in the Texans running back, claiming a stake of his future earnings in increments as low as $10.
So what does this mean?
This means that Foster is continuing to brand himself in new ways.
So what does this mean to you?
Instead of investing in jerseys and tickets to watch him in an NFL game, you can start investing in your favorite player. You invest money in Foster and when his “brand” stock goes up, your investment goes up.
“I think branding is an important part of every athlete, of every human being,” Foster told ESPN’s Tania Ganguli this week.
The stock doesn’t guarantee payout. According to CBS Sports investors only will make money if the interest in Foster’s future earning power is high enough.
If you do buy stock it doesn’t mean you own any of Fantex’s contract with Foster or Foster himself.
“We think that we can obviously raise the money from the public markets because there will be the interest (after the initial offering) that, ‘Hey, this an interesting thing because I’m interested in the sport, I understand finance… and I want to own a tracking stock that’s linked to the value and performance of Arian Foster’s brand,” CEO Buck French said. “I do think people will find that interesting.”
Denver Broncos VP of operations John Elway is among the members on the company’s board of directors.