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IPO seeks new way to trade star athletes

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Posted: Tuesday, March 25, 2014 7:00 am

SAN FRANCISCO — Professional athletes frequently get traded to other teams, but San Francisco 49ers tight end Vernon Davis is about to be the first ever to be traded like a stock.

Davis, an eight-year veteran of the National Football League, is serving as the litmus test for a risky concept: Whether sports stars should be treated like public companies, whose moneymaking potential can be bought and sold on an exchange by ordinary investors. San Francisco-based Fantex Inc. plans to operate the exchange and will orchestrate Davis’ initial public offering of stock after getting regulatory approval from the Securities and Exchange Commission.

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