Wikipedia

Wikipedia

Want to take fantasy football to the next level? Go past the draft and head over to the trading floor.

Fantex Brokerage Services will allow for indiviuals to buy and sell stock of their favorite professional athlete. The first athlete to be up for purchase will be San Francisco tight end Vernon Davis.

Secondary trading for stock tied to Vernon Davis’ brand should become available on April 28; however, those interested in getting involved with the Initial Public Offering of the stock still have time to make their purchases.

Fantex’s plan is to keep the IPO reservation period open until 5 p.m. ET on Thursday, with a deadline of fully funding all such reservations by the same time on Friday. At 5 p.m. ET on Friday, April 25, 2014, Fantex will close its book and shares will be allocated based on what states have approved the transactions.

There is still an approval process. Fantex will not be able to officially sell any stock tied to Vernon Davis’ brand until the Securities and Exchange Commission declares the registration statement effective. Fantex co-founder and CEO Buck French expects the declaration to be delivered on Tuesday. Thereafter, individual states must allow people within their states to buy and sell the athlete-related stock.

Individual reservations will be cancelled unless money is deposited by 5 p.m. ET on Friday. There are 421,100 shares of Vernon Davis related stock available at a price of $10 per share.

Find out more about professional athlete stock and Fantex here 

Source: Forbes