Jun 10, 2024 - Technology

Turning athletes into stocks

Illustration of a golden football helmet with a front grill shaped like a dollar bill sign

Illustration: Annelise Capossela/Axios

A new startup called Vestible imagines a world where sports fans can invest in their favorite athletes and buy shares in their future earnings.

Why it matters: The startup, which recently received regulatory clearance, is the latest gambit allowing people to directly invest in celebrities' earning power.

How it works: Vestible, founded by former Oklahoma State football players Parker Graham and Yves Batoba, has one athlete signed up so far: Denver Broncos linebacker Baron Browning.

  • Athletes are treated the same as a new stock debut: There's an initial offering, then shares in the athletes' earnings can be traded after that closes.

Primary offerings go for $10 a share, and 80% of the money raised goes directly to the athlete.

  • Over $100,000 has been invested in Browning's stock since the offering went live in May.

What's next: Vestible says it's adding two college football athletes expected to be first-round draft picks, as well as an NBA player.

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