Patrick Mahomes is making historic money with the Chiefs. He signed a massive contract that’ll pay the Super Bowl MVP a half-billion dollars if everything goes right. Athletes and investors are increasingly becoming intertwined as a mutually beneficial relationship. Mahomes joined this club with a superstar investment team focusing on wearable technology that can better society.
Patrick Mahomes joins the business world
Before his extension, Mahomes wasn’t getting the type of superstar money one would expect from a Super Bowl MVP. After all, rookie deals for superstars are never as lucrative as the ones after it. However, since Mahomes broke out in 2018, reports CNBC, he’s made up for it in endorsements. Since his first breakout, Mahomes has built an impressive portfolio already paying dividends.
After all, Mahomes broke the plane between being an NFL star and joined the ranks of international stars. His agent, Leigh Steinberg, discussed this with CNBC: “For a player who performs dramatically, they have the ability to escape the narrow genre of hardcore football fans and cross over into the celebrity-making machine to become a household name.”
This brand is also vital to Mahomes. Although he is happily married to football, he’s also big on being viewed in a similar light as players like LeBron James, who defy the athlete label by becoming icons.
“I want people to know how relatable I am and how I’ve been the same person that I’ve been my entire life,” Mahomes said to CNBC. “But at the same time, I feel like I’m still growing in everything that I’m doing. Every single year I feel like I have a better knowledge of not only the game, but how I want to be perceived off the field.” It’s working, and now Mahomes off-the-field resume might grow even more impressive as his on-field one.
Patrick Mahomes investing big
In 2010, according to Forbes, Harvard student Will Ahmed had an idea to expand on the growing smartwatch industry by inventing one that goes above and beyond. He started Whoop with two college classmates. The device gives its users an in-depth look at how their body functions and what to pay attention to. Other companies got on board, from Netflix to Slack.
To get more legitimacy, Whoop brought on several other athletes to build their brand. These included NBA superstar Kevin Durant, golfers Rory McIlroy and Justin Thomas, and fellow NFL star Larry Fitzgerald. The company is now valued at over a billion dollars. And its work with investors indicates that its success won’t slow down.
Whoop saw a recent rise in a convoluted market after several users reportedly spotted their symptoms with the watch’s help, reports CNBC. While many investments might be for money, Whoop is doing some good in the process. It also goes to show just what kind of opportunities Mahomes may have in the future. The Whoop investment is just a start, however. Before long, Mahomes might have the capital and the experience to grow it even higher.
What comes next?
If history is any indicator, Whoop is just the start of Mahomes’ career as an investor. His portfolio already ranges beyond the NFL and Whoop, too. In July, Mahomes helped celebrate his new contract by investing in Kansas City’s other major team, the Royals. This not only bought him goodwill from the community, but it also gave him a glimpse of the other side of sports.
Now, Mahomes has to worry about football. However, at just 24 years old, he’s well on his way to having a business career few other athletes can.