Here’s a new twist on fantasy sports: a San Francisco startup is offering a chance to bet on the moneymaking potential of star athletes.
The unusual investment opportunity kicked off Thursday with an IPO filing proposing to sell stock for a stake in the future income of the Houston Texans’ Arian Foster, a top running back in the National Football League.
The initial public offering hinges on a deal requiring Fantex Holdings Inc. to pay Foster $10 million in return for a 20 percent share of his remaining contract with the Texans, his endorsement income and any other future money tied to his football career. Those earnings could include potential broadcasting jobs that Foster gets after his playing career is over as long as it is unrelated to football.
Fantex plans to sell about 1 million shares at $10 apiece to pay Foster and cover other expenses. The tracking stock won’t trade on a major stock exchange; instead, it will be bought and sold on a trading platform set up by Fantex, which was co-founded last year by Silicon Valley entrepreneur Buck French.
Seahawks 33, Cards 22
Russell Wilson threw for three touchdowns, Marshawn Lynch rushed for 91 yards and the visiting Seattle Seahawks beat the Arizona Cardinals. The Seahawks (6-1) intercepted two of Carson Palmer’s passes, converting both into touchdowns, and sacked him seven times, twice by Chris Clemons, who had been questionable for the game with a hyperextended elbow.
Arizona (3-4) got a touchdown and one of its three field goals after Wilson twice fumbled while being sacked deep in Seattle territory.
Around the league
Injured Tennessee quarterback Jake Locker says he’s preparing to start Sunday against San Francisco. … The Minnesota Vikings ruled starting safety Harrison Smith out for the game against the Giants on Monday night because of turf toe on his left foot. … Receiver Roddy White, running back Steven Jackson and offensive tackle Sam Baker missed another practice for the Atlanta Falcons. … Case Keenum will start at quarterback for the Houston Texans on Sunday.