DeAndre Hopkins #10 of the Arizona Cardinals attempts to avoid a tackle against Jimmy Moreland #20 of the Washington Football Team during the second quarter at State Farm Stadium on September 20, 2020 in Glendale, Arizona.
Norm Hall | Getty Images
Sports drink company BioSteel on Tuesday announced a multi-year deal with Arizona Cardinals wide receiver DeAndre Hopkins, who will also invest in the firm.
BioSteel is a sports drink company that sells sugar-free beverages to athletes, and it’s trying to take-on Gatorade, which controls more than 70% of the sports drink market, according to data by Beverage Digest.
“One of the things we’ve always done is leaned on our relationships that are authentic and that have some roots in the use of our products,” BioSteel co-founder, Co-CEO and former NHL player Mike Cammalleri told CNBC. “In DeAndre’s case, it was one of those deals where he wanted to become more involved with the company and the brand and it’s exciting for everybody,” he added.
The company has signed lots of A-list athletes to promote its products, such as Super Bowl MVP Patrick Mahomes, hockey great Wayne Gretzky, Cowboys star Ezekiel Elliott and the Brooklyn Nets basketball team.
Hopkins talked with CNBC a bit about his new investments and his new two-year contract, worth worth an estimated $54.5 million, which he negotiated without the help of an agent.
“It’s kind of taking ownership into your own hands,” Hopkins said of his NFL negotiations. ”I thought it was a good way to kind of get my feet wet and and learn the terminology of contracts and football business behind the scenes. I think a lot of players obviously want to do that and they don’t know how and what I can tell them is anything is possible if you take time out and try to learn.”
Now that he’s conquered his contract, Hopkins and his marketing team are working to continue to beef up his endorsement portfolio.
The BioSteel deal follows an announcement last week that Hopkins signed with Therabody, maker of popular massage therapy devices. As part of that deal, Hopkins will be a brand ambassador and will also invest in the company.
Hopkins’ portfolio also includes a premium skincare line called Oars and Alps, and meatless substitute Beyond Meat. He also has a successful real estate development business, Stim Real Estate Group, under which he owns nearly two dozen housing properties throughout Texas.
Hopkins plans to expand his real estate venture into Arizona, Los Angeles and South Carolina, where he attended college at Clemson. He’s also expanding to commercial properties and restaurants.
“I’m just kind of dabbling, but it’s definitely something I’m interested in post-career,” he said.