Fantex Sells 421,000 Shares In Vernon Davis' Future Earnings
Fantex' tracking stock in 49ers TE Vernon Davis today is slated to hit the secondary marketplace, "where investors can buy and sell shares of the professional football player." The startup already has sold 421,000 shares in Davis to investors seeking some of the players' future earnings. Fantex is paying Davis $4M for a claim to 10% of "anything he earns related to his football career," starting today. Each share costs $10 (PITTSBURGH POST-GAZETTE, 4/28).