• Loading stock data...
Monday, October 20, 2025

Bear Market for Sacks and INTs? The Difficult Road of Sports Stock Markets

  • Many companies have attempted to develop a successful athlete stock market.
  • Scaling these operations with casual sports fans have proved very difficult.
Matthew Emmons-USA TODAY Sports

If there’s one truism of the sports industry, it’s that somebody at some point will again try to blend pro sports with elements of the stock market. And in nearly every instance, it’s been an uphill climb. 

For more than 20 years, a series of different companies have sought to use either the on- or off-field performance of athletes and turn that into some version of an investment-grade asset. The approaches have varied, with some veering closer to the realm of traditional fantasy sports or sports betting, others existing as a repackaging of other celebrity brand investment vehicles. 

But in every instance, the core idea is largely the same: take investment concepts core to Wall Street and combine them with the affinity fans have for sports. 

The latest entrant is Vestible, which allows fans to buy and sell shares based on the future on-field earnings of college pro athletes. The Kansas-based startup has gained approval from the U.S. Securities and Exchange Commission, and it now plans a March 18 initial public offering centering on Broncos linebacker Baron Browning. Fans can buy shares priced at $10 tied to 1% of Browning’s salary income. The Denver linebacker, who keeps 80% of IPO funds, is currently in a rookie contract paying about $3.1 million this year, but he is set for a big pay bump in his next deal. Part of the hook here is for fans to get in on the ground floor, so to speak, on Browning’s upside. 

Swings and Misses

Investors will receive monthly dividends, and they can buy and sell those shares. Vestible, however, is merely the latest in a long list of companies to try, without lasting success, some version of this idea. Among the company’s many predecessors:

  • ProTrade: The granddaddy of them all in this space. Created by Mike Kerns—former chief of staff to super agents Leigh Steinberg and Jeff Moorad—and Jeff Ma, part of the famed MIT blackjack team that beat Las Vegas at its own game, this company formed in 2004 as an online stock market of athletes. Unable to scale that operation, Kerns and Ma renamed the business in ’08 to Citizen Sports Network and shifted to a variety of social networking and fantasy-sports-oriented applications, ultimately leading to a successful sale to Yahoo! Today, Kerns is a partner at influential investment firm The Chernin Group, while Ma is an active entrepreneur, author, podcaster, and speaker.
  • Fantex: Similar to Vestible but structured around endorsement income instead of on-field salary, this company sold shares between 2013 and ’16 before closing the following year. 
  • Mojo: Backed by Timberwolves owners Alex Rodriguez and Marc Lore, this athlete-oriented stock market also ventured into sports betting and fantasy sports, but it sold or shut down much of its business late last year and is now focusing on back-end pricing support for other betting operators. 

Plenty of others are still attempting similar concepts, including PredictionStrike, which raised $10 million last fall for its fantasy-sports stock market. But in virtually every prior instance, an inability to reach large swaths of casual fans has helped prove fatal. 

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Apr 5, 2025; San Antonio, TX, USA; Auburn Tigers head coach Bruce Pearl talks with his players against the Florida Gators in the semifinals of the men's Final Four of the 2025 NCAA Tournament at the Alamodome.

Bruce Pearl: ‘The One Thing’ I Miss About Coaching

FOS interviewed ex-Auburn coach on his move to TNT Sports.
Jul 30, 2022; Irvine, CA, USA; A general view of the official NFL balls on the field during Los Angeles Rams training camp at University of California Irvine.

Saudi Arabia Wants to Bring American Football to the Middle East

The Middle Eastern nation wants to host major football events.

ESPN’s ‘MNF’ Doubleheaders Will End—If NFL Equity Deal Clears

ESPN is broadcasting its fourth “MNF” doubleheader this season.
Indiana

Indiana Is the Center of the Sports World—Again

After successful NBA and WNBA seasons, Indiana’s football teams are thriving.

Featured Today

@chef__tezz/Instagram

Inside the NFL’s Private Chef Network

Private chefs are the unsung architects of player performance.
October 18, 2025

How Vanderbilt Went From SEC Doormat to Dark Horse CFP Candidate

After beating LSU, Clark Lea said: “Internally, we expect to win.”
May 27, 2025; Indianapolis, Indiana, USA; Indiana Pacers guard T.J. McConnell (9) shoots a three point basket over New York Knicks guard Josh Hart (3) during the third quarter of game four of the eastern conference finals for the 2025 NBA Playoffs at Gainbridge Fieldhouse
October 18, 2025

NBA Stars Swap Wine With League Friends and Foes

A wine-exchange tradition emerged from the bubble season’s close quarters.
May 25, 2025; Indianapolis, Indiana, USA; Derek Jeter walks the red carpet on Sunday, May 25, 2025, ahead of the 109th running of the Indianapolis 500 at Indianapolis Motor Speedway
October 16, 2025

The Players’ Tribune Is Still Kicking 11 Years Later

Founder Derek Jeter is still closely involved in the publication.
Sponsored

How HOKA is Reimagining the NIL Relationship

Fans can now follow their favorite golfers and experience every marquee moment at the Ryder Cup — thanks to innovation from T-Mobile.
October 19, 2025

Jannik Sinner’s $6M Saudi Payday Tops Any Grand Slam Purse

The other five participants received $1.5 million.
Oct 19, 2025; Inglewood, California, USA; Indianapolis Colts quarterback Daniel Jones (17) hands off the ball in the first quarter against the Los Angeles Chargers at SoFi Stadium.
October 20, 2025

Mac Jones, Daniel Jones Cash In on Big Incentive Money

Both quarterbacks have hit big contract incentives just halfway through the season.
Sponsored

How Jenny Just Is Shaping the Future of Sports Ownership

Jenny Just on bringing her investment experience to sports ownership.
Kevin Durant
October 19, 2025

Durant’s $30M Discount Still Makes Him Highest NBA Career Earner

The deal will put Durant at $598 million in career earnings.
Jan 8, 2024; Philadelphia, Pennsylvania, USA; Philadelphia Flyers goaltender Carter Hart (79) makes a save against the Pittsburgh Penguins during the second period at Wells Fargo Center
October 16, 2025

Golden Knights Add Hockey Canada Trial’s Carter Hart

Hart is the only acquitted player to sign with an NHL team.
Tiger Woods of Jupiter Links GC sits during a break in their TGL golf match against Atlanta Drive GC at SoFi Center on March 4, 2025, in Palm Beach Gardens, Florida.
October 13, 2025

Latest Tiger Woods Surgery Bad News for TGL, PGA Tour Champions

Woods is recovering from his seventh back surgery in 11 years.
Nov 28, 2023; Newark, New Jersey, USA; New Jersey Devils center Michael McLeod (20) celebrates his goal against the New York Islanders during the first period at Prudential Center. Mandatory Credit:
October 9, 2025

Hockey Canada Trial’s Michael McLeod Signs Outside NHL

Fans in Carolina protested the team’s interest in the Hockey Canada 5.