• Loading stock data...
Saturday, July 12, 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

Bobbleheads are seen at Vintage Indy Sports, Tuesday, April 29, 2025 in Speedway. The local sports memorabilia store opened recently.

Baseball’s Bobbleheads Are the Center of the Collectibles Universe

Baseball’s most important keepsake drives long lines—and big business.
NFL

30 NFL Second-Rounders Still Unsigned With Camps Set to Open

Saturday is the earliest rookie report date for training camp.
Cobh Ramblers
exclusive

Ireland’s Ramblers Latest Soccer Club to Gain U.S. Owner

The Ramblers play in the League of Ireland First Division.

Najee Harris Contract Situation Unclear Following Fireworks Injury

The running back signed a one-year, $5.25 million contract with the Chargers in March.

Featured Today

Rimouski, QC - JUNE 1: Final Game of the 2025 Memorial Cup between the Medicine Hats Tigers and the London Knights on June 1, 2025, at the Colisée Financière Sun Life in Rimouski, Qc.

CHL Is Facing a ‘Pandora’s Box’ of Questions Amid NCAA Talent Departure

As players defect to college, the Canadian Hockey League won’t cede ground.
Jun 28, 2025; Arlington, Texas, USA; Seattle Mariners catcher Cal Raleigh (29) bats during the game between the Texas Rangers and the Seattle Mariners at Globe Life Field.
July 9, 2025

The Torpedo Bat Business Is Still Going Strong: ‘Here to Stay’

Demand for the oddly shaped bats has stayed strong across the sport.
July 6, 2025

American Celebs Want to Be Sports Owners. Soccer Is Where They Start

As U.S. team prices climb, investors set their sights abroad.
July 5, 2025

Baseball’s Celebrity Row: Behind MLB’s First-Pitch Ritual

Often planned, sometimes spontaneous, the ritual throw is baseball’s celebrity row.

Misiorowski’s Path From Anonymous to MLB All-Star In 5 Games

The Brewers flamethrower has just five games of major-league experience.
Apr 9, 2025; New York, New York, USA; Katie Taylor (left) and Amanda Serrano (right) pose in front of Jake Paul during a press conference ahead of their boxing match at Madison Square Garden.
July 11, 2025

Serrano vs. Taylor 3 Set to Be Biggest Women’s Boxing Match in..

“I’m just sick of the whining and complaining from your team.”
Sinner
July 11, 2025

ESPN Gets Dream Alcaraz-Sinner Rematch in Wimbledon Final

The pair have won the last six men’s majors.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Dealmaker Jeffrey Kaplan maps the evolution of sports as an asset class
Jul 10, 2025; Las Vegas, NV, USA; Dallas Mavericks forward Cooper Flagg (32) dunks against the Los Angeles Lakers in the first quarter of their game at Thomas & Mack Center.
July 11, 2025

Cooper Flagg Makes Mavericks, New Balance Debut in Win Over Bronny

Thursday marked Flagg’s first game donning New Balance shoes.
July 10, 2025

Jalen Williams Signs Max Deal As Thunder Commit $822M to 3 Stars

Oklahoma City also extended Shai Gilgeous-Alexander and Chet Holmgren.
Hall of Fame Open at the International Tennis Hall of Fame, Newport.
July 10, 2025

Andy Roddick Slams Billionaire Bill Ackman’s Pro Tennis Gambit

“This was the biggest joke I’ve ever watched in professional tennis.”
July 10, 2025

Suns All In on Booker, Who Signs Record Extension Amidst Chaos

The Suns changed their head coach for the fourth time in four years.