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Sports Stock Market

Just over a year ago, OneSeason opened, a stock market for the Sports Enthusiast.

"Here's an ironically appropriate Web startup for today's calamitous economic times," said Brad Stone of the New York Times. His skepticism was not unfounded.

"OneSeason.com is introducing a day-trading site for sports fans - a Web stock market which allows people to invest real money to own "shares" of their favorite sports players, teams and leagues," Stone summarized in his article. "The word "shares" is in quotes because the shares on OneSeason are, ultimately, meaningless-- only illusory slices of players like Eli Manning or Lebron James, which either rise or fall depending on the demand for those shares among other traders. People can transfer up to $2500 a year to their OneSeason accounts."

OneSeason founder Mike Sroka - no newbie to the market - compared OneSeason stock to playing cards you used to collect as a kid. You know, the ones that came with bubble gum. "The cards have no intrinsic value, but due to limited supply and notoriety of the player, they fluctuate in value," he said.

The site issued IPOs - Initial Player Offerings - three times a day for players in football, basketball, baseball and hockey. Prices ranged between 50 cents and $20. As they drew near those parameters, the stocks either split or reverse split.

The company was partially backed by Kalydus Asset Advisors, a hedge fund out of Dallas where Sroka used to work. OneSeason was trying to generate revenues from a one percent commission on trades and interest income on client accounts.

Unfortunately, their gamble didn't pay off.

"We are disappointed to report the closure of OneSeason.com," says a message on the OneSeason website. "This end of service may come as an unpleasant surprise and is certainly not the outcome we hoped to achieve. Unfortunately we have not been able to create a sustainable business and do not have the resources to continue operating.

We hope that you enjoyed the service. Thank you to everyone who has supported us along the way and created such an amazing community of fans exploring new ways to enjoy sports.

Best Regards,

-Mike & The OneSeason Team"

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