NYTimes: First, there was old-fashioned gambling on football. Then came the fantasy leagues. And now, thanks to Wall Street, fans can buy a stake in their favorite player. On Thursday, a start-up company announced a new trading exchange for investors to buy and sell interests in professional athletes. Backed by executives from Silicon Valley, Wall Street and the sports world, the company plans to create stocks tied to an athlete’s financial performance.
The company is called Fantex. I get the idea, but the fine print is nonexistent. This has no shot of working… and if it did, there is no way in hell I’d buy Arian Foster stock. You apparently make gains on marketability and endorsements… you are buying the player brand. Foster would scare the shit out of me as an investor. He hates fantasy football. He is into all kinds of weird crap like yoga and not eating meat. He screams Ricky Williams to me. I could see him rushing for 1500 yards and 20 TDs next season and then deciding he’s done with football and wants to go live in a hut in India for the rest of his life. A risky investment.
You buy stock in young QBs and hope one turns into Peyton Manning. That’s it. I want no part of a RB.
Note: Kerry Kittles is an advisor to this company. That should tell you all you need to know.