Fantex has pulled its initial public offering.
In a filing with the SEC on Wednesday, Fantex pulled its IPO citing the termination of its relationship with Houston Texans running back Arian Foster.
According to a separate filing with the SEC, Fantex disclosed that Foster’s agreement with the company was terminated on November 10.
Foster was the first athlete signed by Fantex back in 2013, with the company and its shareholders buying a 20% stake in in Foster’s future earnings for $US10 million. Foster is currently on injured reserve after tearing his Achilles last month.
Fantex pays athletes an up-front amount in exchange for a per cent of the athlete’s future earnings. For a pro football player, who is more likely than not to see their career last just a handful of years, this deal gets them some cash up-front as a hedge against future career turmoil.
The table below, which comes from the company’s most recent filing with the SEC, shows how much of each athlete’s future earnings they had a claim on and what they paid for them:
So it looks like right now you’re going to have to wait to get a piece of a pro athlete.
There is (for now!), however, still fantasy football.
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