Anyone interested in diversifying their portfolio of holdings in professional athletes will be able to buy stock in Bills quarterback E.J. Manuel soon.
Manuel signed with Fantex, the brokerage that buys percentages of athletes’ future earnings and then sells shares to the public, in February and Mike Rodak of ESPN.com reports that the company is expected to announce the date of an initial public offering of Manuel’s shares on Thursday. Per Rodak, the company is paying Manuel $4.97 million for 10 percent of his “brand income” and the company is expected to offer 523,700 shares to the public at $10 a share.
The company projects Manuel will earn $104 million before and after his playing career, an assessment that would make any investors in Manuel stock as tied to his growth in 2014 as a member of the Bills organization. If Manuel becomes a quality NFL starter, that $104 million in earnings will likely be a low estimate of his earning and the Bills will be as happy as Fantex investors. If signs of that development aren’t there, though, Manuel may not be a starter long enough to make even a quarter of that amount.
The company has already started trading stock in 49ers tight end Vernon Davis, whose issue is trading at $11 as of Thursday morning after also opening trading at $10 a share. Fantex also struck a deal with Texans running back Arian Foster, but an initial offering has been postponed indefinitely.