Athletes may be used to getting traded by teams, but now fans can get in on the action by buying stock in players.
Arian Foster, who plays for the NFL’s Houstan Texans, is the first player who will be traded on a new stock exchange, reports the New York Times.
Fantex Holdings is creating the exchange. Foster is the first player to sign on. His worth on the exchange will be determined by his earnings, including his career and endorsement contracts, and appearance fees.
The plan must still be approved by securities regulators, and if it goes ahead Fantex Holdings plans to hold a Foster IPO in the future, says the Times.
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