• Loading stock data...
Friday, November 22, 2024

Luka Dončić Makes BioSteel His First Equity Investment

  • Luka Dončić became a first-time equity investor through his deal with sports drink company BioSteel.
  • As part of the deal, the Dallas Mavericks star will become the company’s Chief Hydration Officer.
Photo: BioSteel/Design: Alex Brooks

At 22 years old, Luka Dončić has a Rookie of the Year award, a $32.5 million NBA contract, a record-breaking trading card, and now, after partnering with BioSteel, his first equity investment.

BioSteel, which makes sports drinks, protein powders, and other products, announced the multi-year deal on Tuesday.

Dončić got to know the product first as a consumer, because BioSteel sponsors his Dallas Mavericks. Before he got involved with the company, he reached out to a friend who has an equity stake in BioSteel.

“I asked Pat Mahomes,” Dončić told Front Office Sports. “We talk sometimes.” The young stars got to know each other around two years ago after Mahomes came to a Mavericks game. BioSteel also sponsors Ezekiel Elliot, Gleyber Torres, and Brooke Henderson, among others.

After the quarterback vouched for BioSteel, Dončić initiated contact. The result is a deal that makes the MVP candidate a first-time equity investor and BioSteel’s Global Chief Hydration Officer, which Dončić made official on LinkedIn.

“It’s important to us that our partnerships are authentic as we continue to grow our brand,” said BioSteel co-founder and co-CEO Michael Cammalleri. “Our partnerships with top-tier athletes such as Luka Doncic and Patrick Mahomes, along with our NBA team deals and recent partnership with U.S. Soccer allow us to tell our unique story.”

Cammalleri had a 15-year career in the NHL, and started BioSteel to provide a sugar-free alternative for sports drink. BioSteel was acquired by cannabis company Canopy Growth in 2019, and takes advantage of its distribution networks, but does not sell cannabis products.

Dončić is also sponsored by Jordan Brand, after inking a five-year deal in December 2019. Matthew Kay, who represents Dončić, said that he is fielding inquiries on Dončić from companies around the globe.

As for future investments, Dončić plans to stick with people and products that he knows well.

“I’m still new to this, but I have people that I trust,” he said. One of them is the guy who pays his salary.

“I want to learn from Mark,” he said, referring to Dallas Mavericks owner Mark Cuban. “He’s a great investor.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Nov 16, 2024; Washington, District of Columbia, USA; Washington Spirit forward Trinity Rodman (2) celebrates after defeating NJ/NY Gotham FC in a 2024 NWSL Playoffs semifinal match at Audi Field. Mandatory Credit:

The Washington Spirit’s Business Makeover Carried Them to the Finals

The team’s return to the NWSL championship looks a lot different from 2021.
Nov 18, 2023; Las Vegas, Nevada, USA; Williams Racing driver Logan Sargeant of the United States (2) during the Las Vegas Grand Prix at Las Vegas Strip Circuit.

F1 Grand Prix Upended Vegas Last Year. Stakes Are High for Its..

Stakes are high as F1 gears up for a successful second act.
Classic Football Shirts New York Pop-Up

Vintage Soccer Jerseys Have Found a Sweet Spot in the Lucrative U.S...

The money-making shirts are at the prime intersection of memorabilia and fashion.
Nov 13, 2024; New York, New York, USA; New York Knicks guard Josh Hart (3) reacts after fouling Chicago Bulls guard Coby White (not pictured) during the second half at Madison Square Garden.
opinion

NBA Ratings Rorschach Test: Buy the Dip

Was it the election? Too many threes? Lack of storylines?
podcast thumbnail mobile
Front Office Sports Today

What’s Next for Hapless Jets?

0:00

Featured Today

Executive Decision: When Richard Nixon Named a College Football Champion

In 1969, the 37th president unilaterally named the winner of the season.
November 15, 2024

How Women’s Sports Could Change in the Next Trump Era

Under the president-elect, Title IX could change drastically.
Former President Donald Trump waves to the crowd as he exits the putting green with his aide Walt Nauta, left, during the final round of the LIV Golf Bedminster golf tournament at Trump National Bedminster on Sunday, Aug. 13, 2023.
opinion
November 9, 2024

Trump Win Puts Sports Back in the White House

With Trump back in the White House, sports get more political again.
Members of the NY Giants run onto the field to start the game between the New York Giants and the Washington Commanders at MetLife Stadium in East Rutherford on Sunday, Nov. 3, 2024.
November 8, 2024

The NFL Is Becoming the League With No Borders

Where will the NFL go next? International expansion will only get bigger.
May 27, 2024; Paris, France; Rafael Nadal of Spain waves goodbye after his match against Alexander Zverev of Germany on day two of Roland Garros at Stade Roland Garros.
November 19, 2024

Rafael Nadal Bids Farewell to Tennis at Davis Cup

Nadal surpassed the $135 million mark in career earnings.
Michele Kang
November 20, 2024

The Wealthy Booster Spending Millions to Turn U.S. Soccer European

Michele Kang says NWSL expansion requires more coaches and refs.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
Nov 3, 2024; East Rutherford, New Jersey, USA; New York Giants quarterback Daniel Jones (8) is sacked during an extra point attempt by Washington Commanders defensive end Dorance Armstrong (92) during the second half at MetLife Stadium.
November 18, 2024

Giants Hit Rock Bottom, Demote QB Daniel Jones With $23 Million Injury..

Jones signed a four-year, $160 million contract extension in March 2023.
Bronny James
November 13, 2024

Bronny James Won’t Play G League Road Games

G League players travel on commercial airlines.
Despondent Giants quarterback Daniel Jones.
November 12, 2024

The $23 Million Reason a Daniel Jones Benching Is Looming

Injury guarantees have come into play for several quarterbacks in recent years.
Nick Bosa
November 12, 2024

NFL Waited for Trump Win to Fine Nick Bosa for MAGA Hat

The league usually issues such fines quickly, but waited weeks for Bosa.