Fantex, a brokerage firm based in California, will soon offer shares of Bills QB EJ Manuel, continuing one of more bizarre trends in sports business.
Manuel agreed to a “brand contract” with Fantex, which is expected to offer 523,700 shares of the second-year QB's stock at $10 per share. In return, the company will pay Manuel nearly $5 million up front for 10 percent of whatever he earns throughout his career (endorsements, etc), estimated to be around $104 million by the company.
His stock will trade under the symbol EJMLL.
The Florida State product had a mediocre rookie campaign, throwing for 1,972 yards, 11 touchdowns and nine interceptions in between various knee injuries. The team was 4-6 when he was under center. Keep in mind that any investment in Manuel is also an investment in the Bills – hardly a safe prospect.
Fantex recently began offering shares of 49er TE Vernon Davis, and Davis was up to $11 per share at midweek after opening at $10.