Lewis floats idea of Hamilton plc
Formula 1’s newest superstar Lewis Hamilton is considering floating himself on the stock market.
The 22-year-old has had a dizzying rise to fame in the past nine months thanks to his sensational exploits in his rookie F1 season, which took him to the brink of the world title.
Sports marketing experts have speculated that he could bank an unprecedented $1bn over the course of his career through lucrative endorsement deals, and his father Anthony and advisers are currently believed to be tying up some long-term contracts.
Among other options Hamilton is reportedly considering listing himself on the stock market, giving fans and sponsors the opportunity to acquire a stake in his future earnings.
According to the Independent on Sunday, under one innovative plan, a new company would be set up with Hamilton as both its major asset and shareholder.
It would sell off 10% of its shares for about $100m, giving Lewis a lump sum now, while shareholders would draw a regular dividend on his earnings as his career progresses.
From Hamilton’s point of view it makes perfect sense because global sporting icons have a limited shelf life and, especially in F1, can see their hopes dashed by accident or injury.
The Hamilton plc idea would be a genuinely radical venture.
Although the likes of David Bowie and James Brown have raised money by selling bonds against their future earnings, those bonds were based on future royalties from albums they had already recorded – as distinct from races and championships Hamilton has yet to win.
Source: itv-f1
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