SAN FRANCISCO--(BUSINESS WIRE)--Fantex, Inc. announced today it has entered into brand contracts with ten athletes across three major sports – doubling the number of brand contracts the company has with professional athletes.
“The announcement today marks twenty contracts now signed with athletes from across the world of professional sports,” said Fantex CEO and co-founder, Buck French. Fantex, Inc.’s newest contracts include those with players from the National Football League (NFL), Major League Baseball (MLB) and Professional Golf.
|Athlete||Professional Sports Affiliation||
% of Brand Income to
Pitcher, Minnesota Twins
Philadelphia Phillies (MLB)
Houston Astros (MLB)
Baltimore Orioles (MLB)
San Diego Padres (MLB)
|Kelly Kraft||Professional Golfer||$2.28M||15%|
|Scott Langley||Professional Golfer||$3.06M||15%|
|Jack Maguire||Professional Golfer||$2.07M||11%|
|Kyle Reifers||Professional Golfer||$1.74M||15%|
Under the terms of each of the newly announced brand contracts, Fantex, Inc. would acquire – upon payment of the upfront purchase price – an interest in the future on- and off-field cash flows of the athlete, as defined in the applicable brand contract. The consummation of each of the brand contracts is contingent upon Fantex, Inc. obtaining financing necessary to pay the applicable purchase price. Information regarding Fantex, Inc.’s brand contracts with these ten athletes is included in the table above.
The company also announced today that it has withdrawn its earlier registration statement on Form S-1 (File No. 333-208184) for the proposed offering of Fantex Sports Portfolio 1 Units. French added, “In light of our most recent signings, we are working with our advisors on the most appropriate way to potentially package and offer our unique asset class to investors.”
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.