Fantex postpones Arian Foster stock offering
Texans running back Arian Foster will lose the rest of the season to back surgery. He also will lose, at least for now, $10 million.
Fantex has announced that the Arian Foster stock offering has been scrapped for now, due the injury that has ended his season
“After consideration, we have made the decision to postpone the offering for Fantex Arian Foster,” Fantex CEO Buck said in a statement issued to PFT. “We feel this is a prudent course of action under the current circumstances. We continue to support Arian and his brand, and we wish him well in his recovery. We will continue to work with him through his recovery and intend to continue with this offering at an appropriate time in the future based on an assessment of these events.”
Foster had agreed to receive $10 million in exchange for payment of 20 percent of all football-related earnings to Fantex. The deal would have proceeded only if all the stock had been sold, and the placement of Foster on injured reserve guarantees that the stock wouldn’t have been sold.
Fantex also plans to issue a Vernon Davis stock offering, with $4 million to Davis in exchange for 10 percent of his future earnings.