Patrick Mahomes: Super Bowl MVP to Business MVP
The Kansas City Chiefs quarterback is building a business empire that spans from sports brands to high-tech startups.
Most people know Patrick Mahomes as the Kansas City Chiefs quarterback who led the team to their first Super Bowl win in 50 years. In fact, Chiefs fans will often use the phrase “Mahomes magic” when discussing the talented, young quarterback’s uncanny ability to lead the team in some pretty big come-from-behind wins. For example, in their 2020 Super Bowl win over the San Francisco 49ers, the Chiefs were down by 10 points going into the fourth quarter - before Mahomes led them on three scoring drives to win the game by 11 points.
However, what a lot of people might not realize about Patrick Mahomes is that he plans to use his NFL brand and wealth to build a business empire that spans several industries from sports companies to tech startups.
Mahomes told Yahoo Finance, “I am trying to build an empire off the field in every way. I watch a lot of the great athletes who came before me and they found ways to build their empire and to build themselves up off the field, so I am trying to do that as much as possible.” Mahomes also told Yahoo Finance that his business role models are sports stars Alex Rodriguez and Miacheal Jordan, as well as billionaire Mark Cuban.
Since signing his record-breaking $503 million contract with the Chiefs, he has been investing heavily in business ventures that span from sports brands to high-tech startups. That’s in addition to his lucrative endorsement deals with some pretty big brand names.
Kansas City Royals Ownership Stake
It turns out that the love between Kansas City and Patrick Mahomes is mutual. Not long after signing a 10-year contract extension with the Chiefs, Mahomes purchased a minority ownership stake in the Kansas City Royals - further cementing his ties to the region. (In case you don’t know, Mahomes actually has a strong connection with baseball - because his father (Pat Mahomes) was a major league pitcher when he was growing up). After purchasing his stake in the Royals, Mahomes released a statement that said, "I love this city and the people of this great town. This opportunity allows me to deepen my roots in this community, which is something I'm excited to do." Therefore, his investment in the Royals franchise tells Kansas Citians that he plans on investing in KC, not just playing football in KC.
In addition to his investment in the Royals organization, Mahomes also invested an undisclosed amount of money into the sports tech startup WHOOP according to Yahoo Finance. WHOOP makes wearable devices that help athletes track their health and performance.
According to CNBC, Mahomes joined Hyperice as an investor (for an undisclosed amount of equity) and brand ambassador. The performance recovery technology company makes the Hypervolt massage device. In a statement, the company said that he would use his name and brand recognition to promote Hyperice’s products in the performance recovery market. Mahomes told CNBC, “I’ve used Hyperice throughout my career as an instrumental part of my overall training and recovery routines to ensure I’m performing at my peak on game day.”
Mahomes is also a fractional owner in the private aviation company Airshare. His family uses Airshare’s private jets to travel to his football games.
In addition to signing a lucrative contract extension with the Chiefs, Patrick Mahomes has also signed lucrative endorsement deals with some big brands in sports and business. For example, he has endorsed several product lines from the athletic-wear maker Adidas:
- Athletic Shoes
- Football Gloves
- Football Cleats
- Baseball Hats
Other endorsement deals include BioSteel Sports Nutrition, Bose, and Oakley.
Patrick Mahomes told Yahoo Finance has done some “dabbling” in the stock market. However, he went on to say that he primarily relies on his financial advisor to handle his stock portfolio.
Mahomes is also interested in the NFT market. According to Bleacher Report, he sold $3.4 million in NFTs back in March 2021.
Mahomes’ Philosophy on Investing
When asked about how he selects brands to invest in, Mahomes told Yahoo Finance, "The biggest thing is to do the stuff you love and you have a passion for because if you do that, you usually figure out a way to make it work. That has been big to me, not to just invest in everything but to invest in stuff that you truly believe in."
For anyone who has ever watched Patrick Mahomes play on the field, you know that he is passionate and hard-working. Therefore, if he puts that same passion and hard-work into his investments, he will likely be successful at building his business empire.
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