Fantex Signs Three More Tour Pros to Brand Contracts
Three more Tour pros have signed with the athlete stock trading company Fantex.
PGA Tour members Kelly Kraft and Kyle Reifers and 21-year-old Web.com pro Jack Maguire were among the 10 signees the company announced Wednesday. Fantex, which offers athletes as stocks in a publicly traded market, signed PGA Tour player Scott Langley as its first golfer in January.
Fantex, which was founded in 2012, represents athletes "across the world in professional sports." It signs clients for purchase prices, which is money paid to the athletes up front. In return, Fantex and investors receive a designated cut of the athletes' brand income.
Kraft was signed for a purchase price of $2.28 million, Maguire for $2.07 million and Reifers for $1.74 million. Langley was bought for $3.06 million earlier this year. The percent of brand income to be acquired by Fantex, and users, is 15% for three of the golfers and 11% for Maguire.