Even if NFL players the brokerage contracts maintain strong financial standing, the discretion of distributions falls entirely upon Fantex. While investors are buying a direct stake in Fantex, as the offering states, they will get no voting power or representation.
There are countless other risks like Fantex's listing of shares on its own platform, but overall, it is hard to get beyond the facts stated on page two of the offering. This is an IPO of Fantex as much as it is an IPO of Arian Foster, Vernon Davis or any other player's prospective "brand income." "I believe your likelihood of success may be better in playing fantasy leagues," Baker of DLA Piper concludes. For now, it is hard to disagree. -- Written by Antoine Gara in New York.