Athlete Garrett Johns is the first to have his shares on the Commonwealth platform, a company based in Los Angeles (USA)
THE Commonwealtha Los Angeles-based sports investment platform, recently launched a new tennis investment offering. As reported by SportsPro Media On Wednesday (14.Aug.2024), this innovative project allows fans to invest directly in promising players, acquiring shares to support the development of their careers.
Founded in 2019, Commonwealth now has over 17,000 members. The platform initially started with horse racing and later expanded to golf. Now, it is entering the world of tennis. Garrett Johnscurrently ranked 414th in the ARP rankings, has become the first tennis player to join the Commonwealth. His shares are being offered starting at $50.
The Commonwealth business model aims to cover two to three years of player expenses. These expenses include travel, accommodation and training costs. As a result, athletes can focus more intensely on improving their skills.
“Every sport has stories of young athletes seeking capital or needing financial support to reach the next level,” said Brian Doxtator, co-founder and CEO of Commonwealth.
Furthermore, the capital raised is expected to help players focus on developing their skills and, consequently, progressing on the professional circuit. A well-structured deal could allow investors to break even once players have achieved a solid position on the ATP Challenger Tour. In addition to breakeven, there is also the potential for financial returns as players reach higher rankings.
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