NYT: Own a Piece of a PGA Tour Pro? A Start-Up Embraces That Idea

[nevets88]

http://www.nytimes.com/2014/09/07/sports/golf/own-a-piece-of-a-pga-tour-pro-a-start-up-embraces-that-idea-.html?ref=golf

Although a couple of pros in the article are resistant, I'm surprised someone didn't try this sooner. I remember seeing some pros starting out in Indiegogo or Kickstarter. I forget the terms though.

Quote:

For now, the portfolio of the company, Fantex, is limited to football players, including the San Francisco 49ers’ Vernon Davis and the Buffalo Bills’ E. J. Manuel , who have had their initial public offerings. The athletes are paid a lump sum upfront for 10 percent of whatever they make on and off the field, including any postcareer pursuits related to their sport. The company keeps 5 percent of what it collects. The rest is allocated to shareholders, who have a financial incentive to promote the athletes, the better to boost their stock, in a setup that perhaps can best be described as “The Social Network” meets “Wall Street.”

[iacas]

Golfers have longer careers, so I suspect that's part of why they aren't as likely to do this. Giving up 10% forever could be a lot of money. Less so for an NFL player who might have a short career.