Buying a share of your favorite athlete
INDIANAPOLIS, IN - DECEMBER 22: Arian Foster of the Houston Texans runs with the ball during the NFL against the Indianapolis Colts at Lucas Oil Stadium on December 22, 2011 in Indianapolis, Indiana.
But now, according to the New York Times, a company called Fantex Holdings is going to set up a stock market for professional athletes. Not as in the athletes do the trading, but as in athletes are the stocks.
For example, Arian Foster, one of the best running backs in the NFL, for the Houston Texans, is going to go public.
Fantex is gonna pay Foster $10 million, for shares in his future earnings, including contracts and endorsements.
Buyers, fans, investors -- whatever you call it -- will be able to trade shares of Mr. Foster on the exchange Fantex will set up.