People Of WFIT
Fri November 1, 2013
Rather Than Bet On Your Favorite NFL Player, Invest
Originally published on Fri November 1, 2013 6:49 pm
Sports marketing and management firm Fantex has reached a deal with San Francisco 49ers tight end Vernon Davis for an initial public stock offering. Fantex is paying Davis $4 million for the rights to 10 percent of his earnings, and the company is also creating a tracking stock linked specifically to the football player's economic performance. Davis is the second player to try this arrangement with Fantex. Sportswriter Fatsis joins Robert Siegel to explain how this is all supposed to work — and why he's dubious.