What's the story?
5-time NBA Champion Kobe Bryant's investment in BodyArmor of $6 million, way back in 2014, is now reportedly worth around $200 million.
In case you didn't know
On Tuesday, 14th of August, Coca-Cola announced the purchase of a minority stake in the sports drink - BodyArmor. He is now the fourth biggest investor in the drink after the brand's co-founder Mike Repole, Coca-Cola and Keurig Dr Pepper.
Heart of the matter
ESPN's Sports Business Reporter Darren Rovell reported on Wednesday about Kobe Bryant's huge profit. The Senior Writer for ESPN was the first to report the seismic increase in the net worth of Bryant's investment, based on the valuation of the Coca-Cola deal. Coca-Cola minority stake purchase in BodyArmor is said to be the biggest in the business of sports drinks since December 2000 when they acquired Quaker Oats, which included Gatorade.
Bryant's $6 million back in 2014 was approximately 10% of the company, which was seen as a healthy competitor to Gatorade. The Prior to Bryant's investment, BodyArmor were coming off a year with close to $10 million in sales. Their sales projections for 2018 hover around $400 million.
Over 20 seasons in the league, Bryant amassed $328 million in career earnings. It was in his 16th year (2011-12) in the NBA that he crossed the $200 million mark in career earnings. Based on this one investment, Bryant seems to be on his way to being a business mogul in retirement, something everybody questioned he would be able to be because of his obsessive nature towards the game.
Since Bryant's investment, many other athletes (reigning NBA MVP James Harden, and NFL Quarterback Andrew Luck to name a few) have signed up with the sports drink brand and also have ownership stakes worth more than $1 million as part of their endorsement deals.Published 17 Aug 2018, 16:27 IST