I clicked through to their website, and I still have no idea how this is supposed to work. From what I can tell:
- He's sold them 3% of his future earnings.
- I don't know what they paid him for it. But they're trying to sell 300,000 "shares" at $12.00 a piece. So $3.6M. Presumably he gets most of that.
- If Cleveland picks up his two options he'll make $30.5M through 2028. 3% of that is 915K. He'll be 30 in his age-28 season.
- He'd need to make 89.5M at 31+ for Finlete "investors" to break even on the 3.6M they've raised.
But it's not at all clear how shareholders would get paid, because they don't actually have any details on their site. My guess is Clase walks away with a couple million, Finlete scams a few hundred K from idiots, and everyone else loses money.