Angels' Heaney becomes 1st MLB player to be offered as stock
Los Angeles Angels left-hander Andrew Heaney has become the first player in Major League Baseball to put himself on the stock market.
According to Ken Rosenthal of Fox Sports, the 24-year-old has entered into a brand contract with Fantex, who will pay him $3.34 million in exchange for 10 percent of all future earnings related to his brand. These future earnings could include player contracts, endorsements and appearance fees.
The negotiation was approved by MLB and the players' union, and is the first of its kind in baseball. Several NFL players have also signed with Fantex, and the company has received praise from John Elway and Jack Nicklaus.
Although Heaney's stock value is not up on the company's website yet, Rosenthal presumes that in order for an investor to see a return on Heaney, his total brand worth must rise north of $33.4 million.
Heaney is in his first season with the Angels after being acquired by the team in December. He owns a 3.52 ERA over 14 starts this year.