It has not been a stellar season for Patrick Mahomes, neither on the NFL turf nor in the business side of his life, as Joe Pompliano reports that a failed business venture destroyed capital of the star of the Kansas City Chiefs.
The business in question is a company called BioSteel, a sports hydration company with which he partnered in 2020, but later left due to huge financial losses to join PRIME With Logan Paul y KSI.
BioSteel had captured other star athletes such as Michael Cammalleri, Ja’Marr Chase, Luke Doncic and Jalen Ramsey but the losses amounted to more than 200 million dollars.
Then, the group declared bankruptcy and owed nine million dollars to the National Hockey League.
“Biosteel was burning 10 million dollars a month,” Pomplinao said. “When that company went bankrupt, that essentially made Mahomes’ equity in the business worth $0“.
Then, Mahomes linked up with top YouTube personalities turned boxers, who have also collaborated with other athletes such as football players and UFC fighters, and Pompliano considered this to be a much better deal for him.
PRIME quickly became a rival of groups established in the isotonic game as Gatorade, Under Amour y Powerade, grossing $500 million a year according to projections and reports after debuting in 2022.
The beverage brand also donated $100,000 to Mahomes’ charity and he has received little praise as he expands into the NFL market.
Who will the Chiefs play next?
Mahomes’ team defeated the Los Angeles Chargers 13-12 to win the AFC West and seal their postseason spot as the third seed in the American Football Conference through Wild Card play.
They will have to vencer a los Miami Dolphinswho finished second in the AFC East despite leading the division for most of the season. The Dolphins and Tyreek Hill have lost two straight games against the Baltimore Ravens and the Buffalo Bills, the latter being the team that beat them to win the division.
The AFC Wild Card game will take place on Saturday, January 13 at 8:00 PM ET.
2024-01-09 19:57:29
#Patrick #Mahomes #worth #dollars #Joe #Pompliano
