Patrick Mahomes Grows Portfolio, Becoming Equity Partner In BioSteel
Excited to announce the newest member of #TeamBioSteel, @PatrickMahomes! Mahomes was first recommended BioSteel products years ago & we’re proud to have been part of his journey. It’s time we make it official! #ItsJustTheTruth https://t.co/U6QCXATfXx pic.twitter.com/Ij50fBOIv8— BioSteel (@BioSteelSports) August 4, 2020
Chiefs QB Patrick Mahomes is "adding to his burgeoning portfolio," as he signed a multiyear deal with nutrition company BioSteel as an "equity partner" yesterday, according to Terez Paylor of YAHOO SPORTS. BioSteel "formally started talking" to Mahomes' agent, Jacquelyn Dahl, a couple months ago. BioSteel co-Founder & co-CEO John Celenza said that the company's decision to partner with Mahomes was easy, "despite the fact the partnership comes during a time where the economy has been uncertain due to COVID-19, and companies, in general, seem to be more hesitant to bet big on endorsements." Paylor noted Mahomes "was already using" BioSteel's products thanks to his trainer, Bobby Stroupe, who "even trained BioSteel co-founder and co-CEO Mike Cammalleri, a former NHL player." Adding a reigning Super Bowl MVP was a "no-brainer for a Canadian company seeking to find its American footing." Celenza: “The fact that it was so authentic to both of us and we’re now entering the U.S. marketplace in a major way, the timing made sense and the relationship had already been established. In regards to COVID, on the field or not, Patrick Mahomes is still Patrick Mahomes and he still has his presence and his influence.” Terms of the deal were not disclosed (SPORTS.YAHOO.com, 8/3).
FOOTSTEPS OF GREATNESS: FORBES.com's Kurt Badenhausen notes while BioSteel is Mahomes’ first new endorsement since winning Super Bowl LIV, he "already has a large stable of ongoing national sponsorships" with Adidas, Oakley, Head & Shoulders, State Farm, Bose, DirecTV, Essentia Water and Electronic Arts. Mahomes' No. 15 jersey and other licensed merchandise "was the NFL’s bestseller" for the '19 season. He is the "latest in a long line of wildly marketable NFL quarterbacks," but Mahomes is looking toward the "paths of a trio of basketball stars who became global icons when mapping out his next steps." Citing Michael Jordan, LeBron James and Kobe Bryant as examples, Mahomes said, “I’ve watched and researched on how they got to where they are at. I’m trying to formulate a plan where I can take those next steps off the field” (FORBES.com, 8/4).