Company selling stock in Mohamed Sanu for $10
Bengals quarterback Andy Dalton isn't the only Cincinnati player facing a big payday Monday: a company called Fantex is now offering shares of wide receiver Mohamed Sanu for $10. Fantex is offering 164,300 shares as part of their initial public offering.
Fantex allows fans to invest in football players, buying real stock that is linked to the athletes' future earnings, whether that comes via contracts, endorsements or appearance fees. The athletes get cash upfront following the IPO as part of their agreement with the company.
Fantex's initial athlete IPO was Houston Texans running back Arian Foster, but the company had to scrap that when he was placed on injured reserve last year. Fantex's other publicly-traded athletes include San Francisco 49ers tight end Vernon Davis ($10 per share) and Buffalo Bills quarterback E.J. Manuel ($10.80 per share).
Last season, Sanu caught 47 passes for 455 yards and two touchdowns. The third-year receiver is penciled in as a starter opposite Pro Bowl receiver A.J. Green. Sanu was a former third-round pick out of Rutgers.
- Alex Hampl