Denver Broncos fans are investing into outside linebacker Baron Browning.
Browning has been tied to the team since he was drafted to the league in 2021. He was the 105th overall pick in the third round, notes NFL.com. He is signed to a four-year deal worth $4,785,852, which includes a $840,620 signing bonus and $840,620 guaranteed, according to Spotrac.
After draft day, Broncos head coach Vic Fangio said, “He’s a good athlete, runs really well, and has versatility. We like his speed and like his athleticism. We think he will be a major contributor on special teams and compete for one of the linebacker spots.”
Fans are also placing their faith and dollars into Browning. The 6-foot-3 linebacker has aligned himself with Vestible, an athlete investment platform that allows individuals to purchase shares in an athlete’s career or journey, their website states. This can permit fans to invest according to their own perception of an athlete’s worth and influence on their teams.
AP News reports Browning’s shares have garnered $656,730, pooled from 65,673 shares sold at $10 each (minimum of 10 shares). The outlet notes that for investors who decide to keep the stock, its value could rise if his career earnings exceed his market valuation of $65 million.
“It’s definitely been enjoyable,” said Browning. “It’s a new way for fans and athletes to connect. Being the first one to do it has been cool, I appreciate them giving me the opportunity.”
Browning earned 80% of the proceeds from his initial public offering (IPO), valued at approximately $525,384.
As his NFL career continues, shareholders will be given 1% of his on-field earnings. They can expect to receive monthly dividend payments or opt to trade his stock on Vestible’s app before September comes to a close, according to AP News.
“Our models find players like that and allow folks to believe in them at the earliest stage, so that when hopefully Baron goes out and has a great season this year, everyone gets to succeed: him, his fans, his investors,” co-founder of Vestible, Parker Graham explained.
Vestible plans to expand its roster with additional athletes from the NFL and NBA by the end of 2024.
