The San Francisco-based brokerage firm Fantex will sell shares of Manuel on the stock market. ESPN reported that the Bills' first-round pick from a year ago signed a brand contract this past winter allowing him to receive an up-front payment in return for a stake in his future income.
Speifically, Manuel got $4.97 million from Fantex. In return, the company will get 10 percent interest in his income from his contract, endorsements and any broadcasting or football-related income upon retirement. The company estimates he will earn $104 million during and after his career.
"EJ is a young player (who) is evolving – a good-looking, smart, articulate individual that has interests beyond just football," Fantex CEO Buck French said. "So our goal is to work with him to create an audience via social media that's actually interested in his other interests beyond football."
Manuel signed a four-year, $8.9 million contract after being drafted last spring. He went only 4-6 as the Bills' starter, though, as three separate knee injuries kept him out of six regular season games and part of the preseason. He went 180-of-306 for 1,972 yards with 11 touchdowns and nine interceptions. He said during voluntary offseason workouts last month that his knee feels good, and he enters the 2014 season as the starter.
The IPO for Manuel stock is Monday, with 523,700 shares hitting the market. It will open at $10 a share and sell under the label EJMLL. The shares are technically shares of Fantex that trade on the company's website platform, as opposed to a standard stock exchange. The company is a registered alternative trading system with the SEC.
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