Andrew Luck and Posey both took stakes in the company the following year, as part of their endorsement agreements. In what was the first non-endemic endorsement deal of his young career, Mike Trout joined the company’s roster in 2012, his rookie season, the same year Rob Gronkowski joined the BA team. “If it wasn’t for Kobe Bryant’s vision and belief, BodyArmor would not have been able to achieve the success we had,” Repole said in a statement announcing the Coca-Cola purchase. “This product can be very disruptive,” Bryant said at the time of his original investment, adding that he thought Gatorade had become “bland with no innovation.” Osaka joined BodyArmor as an endorser in 2019 and received a significant equity stake. He focused on marketing of the product, helping to recruit athletes like Osaka to the brand. Repole was at Bryant’s posthumous Hall of Fame induction ceremony in May, as a guest of Kobe’s family.īryant was a key part of BodyArmor’s growth. His estate is expected to receive more than $400 million from the sale, according to the Wall Street Journal. He invested roughly $6 million for a 10% stake in the company in 2014. The late Kobe Bryant was one of the earliest athletes to bet on Repole and BodyArmor. Pop stars Carrie Underwood and Jennifer Lopez also joined the endorsement roster this year. Athletes gravitated to the brand, and it is now the official partner of UFC, MLS and the U.S. Repole and Lance Collins launched BodyArmor in 2011 as a healthier sports drink alternative to Gatorade, touting a beverage that was low in sodium and packed with electrolytes, coconut water and antioxidants. More recently, Naomi Osaka, Mookie Betts and Christian McCaffrey joined the cap table as part of their endorsement deals. The deal will likely trigger eight-figure payouts for some of the earliest endorsers in the company, who in many cases, like Buster Posey and James Harden, invested cash in the company.
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The pact included a path to full ownership, based on a “pre-determined discount.”īarty Favored at US Open, But Osaka, Gauff Headline Wide-Open Field Coca-Cola originally invested $300 million for a 15% stake in the brand in 2018. Coca-Cola announced Monday that it was acquiring the remaining 85% of sports drink BodyArmor in a deal that values the company at $8 billion. They are after that 50 Cent payday, named after the rapper who pocketed as much as $100 million when Coca-Cola purchased Vitaminwater-maker Glacéau in 2007 for $4.1 billion.Ī new crop of athletes is set to cash in, thanks to the latest billion-dollar brand from Glacéau co-founder Mike Repole.
Over the past decade, there has been a surge in the number of athletes forgoing cash in exchange for equity in endorsement deals with startup companies.
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