Those who have followed Houston Texan Arian Foster’s career – and particularly his interviews – know that he is not only a great running back, he is also one of the most intelligent (and quirky) people to ever play in the NFL.
Now Foster has proved it to the world!
For the first time ever in pro football – and probably for the first time since Caesar owned the Gladiators – fans can own (a piece of) a player. Foster, through a company called Fantex Holdings, has put himself up on the auction block.
As of today, anyone over the age of 18 can buy stock in Foster, claiming a stake of his future earnings for as little as $50. Fantex is selling $10.5 million worth of stock, which represents 20% of Foster’s future earnings. The company takes $500,000 in fees and gives $10 million to Foster.
To oversimplify a bit, Foster ends up ahead on the deal if he makes less than $50 million from this point on. That probably favors Arian over his investors – Foster has about $21 million coming on his current contract and made an estimated $1.75 million in endorsements last year.
Whatever problems you may see with this deal, whether it be indentured servitude or a disincentive to play at his best or something I haven’t even thought of, you have to admit that Foster – and this deal – are unique.
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