One of the Washington Nationals’ top prospects has agreed to sell a percentage of his future baseball earnings to a startup called Agentiq, the latest company seeking to build a platform for public investment in professional athletes.
Ronny Cruz, an infielder with the High-A Wilmington Blue Rocks, is the first pro to sign a deal with Agentiq. Under the agreement, a copy of which was attached to the company’s filings with the SEC, Agentiq has agreed to pay Cruz up to $1.2 million, and provide some branding support, in exchange for up to 10% of his future on-field earnings in both the minor and major leagues. The contract’s language gives Agentiq royalty-free use of Cruz’s NIL for promotional purposes and requires Cruz to repay the investment with interest if he retires within the next five years for any reason other than illness or injury.
The exact specifics of the cash and Cruz’s obligations will hinge on Agentiq’s ability to sell shares in Cruz’s future to outside investors. The company is securitizing the contract via Regulation A Tier 2, an avenue for small offerings that doesn’t carry the same reporting requirements as traditional public companies. According to a recent offering statement filed with the SEC, Agentiq is looking to sell up to 12,900 shares at $100 each, with distributions paid as Cruz’s baseball career progresses.
