Not Quite Main Street's Fantasy Football

Fueled by hedge-fund types, Wall St. league boasts $1M purse
By Clay Dillow,  Newser Staff
Posted Oct 17, 2008 2:28 PM CDT
Financial crisis got you down? Putting $100K on some smashmouth football might take your mind off it.   (AP Photo)
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(Newser) – While the world suffers through financial meltdown, some of the world’s wealthiest money managers are easing the mood by competing in one of Wall Street’s most exclusive boys clubs: A $1 million fantasy-football league. Hedge-fund titans predominate among owners, who pay $100,000 annually for their teams—and there’s a waiting list to score one of the 10 squads, the Journal reports.

Winner gets $600,000, with $300,000 for second place and $100,000 for third; participants say all winnings go to charity from a league several zeroes removed from the average. One participant says the usual smack talk is at an ebb this season: “The last thing you want to do is talk about the financial crisis. But I would all bet we're all spending a lot less time on football these days.”