For Sale: NFL Football Players

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Got some cash laying around to invest in? Maybe take a look at buying a piece of an NFL football player because they’re for sale. Fantex Brokerage Services is now selling stock in football players and their potential earnings. They have six total clients. The Indianapolis Star had a story (full story here) on offensive lineman Jack Mewhort stock going for sale. Here is more from the Indy Star:

An initial public offering of more than 268,000 shares of Mewhort stock are being sold at $10 each on an over-the-counter stock exchange. The stock pricing was determined by Fantex’ projection that Mewhort will earn $58.8 million in gross lifetime brand income, most of which it predicts will come from an estimated nine years of future NFL salaries and bonuses.

Fantex’s brand contract with Mewhort entitles the brokerage to receive 10 percent of brand income for Mewhort. Under that contract, Fantex will pay Mewhort a one-time cash amount of $2.52 million, contingent upon its ability to obtain financing.

The financing will be secured through the offering of 268,100 Mewhort shares. Once the $2.52 million is paid to Mewhort, Fantex will have no further financial obligation to him. 

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