IPO to give investors a stake in NFL running back

IPO to give investors a stake in NFL running back

SAN FRANCISCO (AP) - A new brokerage is offering sports fans a chance to bet on the moneymaking potential of star athletes.

The unorthodox and risky opportunity kicked off Thursday with an IPO filing proposing to sell stock for a stake in the future income of the Houston Texans' Arian Foster, one of the top running backs in the National Football League.

The IPO hinges on a deal requiring Fantex Inc. to pay Foster $10 million in return for a 20 percent share of his remaining contract with the Texans, his endorsement income and any other future money tied to his football career.

Fantex plans to sell 1.06 million shares at $10 apiece to pay Foster and cover other expenses.

The San Francisco company says it is negotiating similar deals with other prominent athletes.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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