When wearing your favorite pro athletes' jersey just isn't enough, you put your money where your mouth is and invest in their brand ... right? At least, that's what a new publicly traded security would allow you to do.
A company tied to contracts with multiple professional athletes filed for initial public offering (IPO) Monday, according to San Francisco-based brand-building company, Fantex. The stock, listed on the NASDAQ as "FXSP," would allow holders to invest in the earnings of 10 football and baseball players at a "variety of career stages."
Here's how it works: Fantex selects an athlete based on his or her athletic performance, appearance, history and personal story, and overall public image, including social media.