Found September 17, 2013 on My Sports Rumors:
It looks like Indianapolis Colts quarterback Andrew Luck is finally capitalizing on his status of being a franchise quarterback and former number one overall draft pick. Luck has done some pitch work in the past for Gatorade but has ditched the company for a new sports energy drink, BodyArmor. The company was founded two years ago by the creator of FUZE and co-founder of Vitaminwater. The deal is for multiple years and gives Luck a stake in the company. Before he became the first pick of the 2012 NFL draft, Indianapolis Colts quarterback Andrew Luck was already pitching Gatorade (PEP), or at least testing his reaction time for the Gatorade Sports Science Institute. He has a new energy drink now, Bodyarmor. The company, a two-year old venture from the creator of FUZE Beverage and the co-founder of Vitaminwater, announced a multiyear partnership with Luck today. The deal includes a stake in the company for Luck, who joins a list of Bodyarmour endorser-investors that includes fellow NFL players Rob Gronkowski, Ray Rice, Jason Pierre-Paul, and LeSean McCoy, as well as Major League Baseball’s Mike Trout and Buster Posey. Luck says he discovered Bodyarmor while still in school at Stanford University. After he arrived in the NFL, he realized he didn’t have to be a paying customer. “I used it a lot,” Luck said by phone yesterday. “And then as I sort of understood the position of the quarterback and some of the off-the-field things, I realized: Hey, maybe there is a chance to contact these guys and get some free drinks out of it.” The endorsement deal grew from there. (Business Week) What I find funny is that Luck is a rich 24-year old who was just looking for some free **** and instead wound up getting paid out of the deal. If the company takes off like some think it might, he’ll be getting a really big pay day out of it. No word on how much of a stake he has in the company but it’s probably a decent amount. The Business Week article says that a lot of athletes are now taking these equity deals in hopes of the really large pay day. Luck is hoping he gets a payday similar to the $60 million that 50 Cent received when Coca-Cola bought out Vitaminwater. “Obviously, that’s always the hope when things like this happen,” says Luck, “The Vitaminwater story, if you will.” I wish him Luck all the luck with this deal, hopefully it works out for him. Even if it fails like most start ups do it’s no big deal as he doesn’t have much on the line here. “Ninety percent of the stories turn out to be huge losses,” says Steve Piascik, founder of the accounting firm Piascik, which specializes in advising athletes. Still, when the equity is in lieu of payment, athletes are essentially playing with house money. Luck says his risk from the Bodyarmor deal is minimal. “There’s always a risk in any equity,” he says. “That comes with any partnership.”(Business Week) The post Andrew Luck dumps Gatorade appeared first on My Sports Rumors.
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