Canopy Growth's Biosteel Sports Nutrition Inks Endorsement Deal with NFL Quarterback Patrick Mahomes
Fresh off signing a historic 10-year contract extension worth up to $503 million with the Kansas City Chiefs, National Football League superstar Patrick Mahomes has now inked a lucrative endorsement with Biosteel Sports Nutrition.
The Toronto-based CPG company announced Tuesday that it had signed a multiyear deal with the 24-year-old MVP quarterback, who will receive an undisclosed equity stake in Biosteel.
Biosteel is majority owned by Canadian cannabis firm Canopy Growth Corporation. The company, which was co-founded in 2009 by former National Hockey League player Mike Cammalleri, makes and markets a variety of hydration, recovery and performance enhancing nutrition products for athletes.
When Canopy acquired a 72% stake in Biosteel last October, the two companies said they planned to launch CBD-enhanced sports nutrition products in the U.S.
At the time, former Canopy CEO Mark Zeuklin said the purchase was aimed at taking a “strong and growing” sports nutrition brand and using it as a platform to deliver cannabis-infused offerings to athletes.
"We view the adoption of CBD in future Biosteel offerings as a potentially significant and disruptive growth driver for our business,” Zeuklin said in October.
Nevertheless, his endorsement of the Biosteel brand itself will undoubtedly help the company grow sales of its CBD products, even if Mahomes isn’t out there hawking those offerings directly.
Indeed, Cammalleri said via the news release that Mahomes would help “lead and amplify” the Biosteel brand.
“As a member of Team Biosteel, Mahomes will help increase awareness for the BioSteel brand as it continues to rise within its category and take on the industry’s giants,” Canopy wrote.
Canopy also noted that Biosteel was “set to take on the U.S. marketplace,” and that an expansion of the brand via mainstream grocery, mass market retail and convenience stores was underway.
“The brand is extending its U.S. footprint and reaching new health-minded consumers, athletes, and sports fans through its partnership with Mahomes,” Canopy wrote.
For his part, Mahomes said he’s “been using Biosteel’s products for years.”
In a video promoting the new partnership, Mahomes credited Biosteel with helping him “be the best Patrick Mahomes that I can be.”
It’s worth noting that the NFL eased its restrictions on marijuana use by players earlier this year. Under a renegotiated collective bargaining agreement, players who test positive for cannabis will no longer be suspended. Furthermore, testing will be restricted to the first two weeks of training camp and the THC threshold needed to trigger a positive test was quadrupled.
Another NFL superstar, Rob Gronkowski, has also promoted the use of CBD. Gronkowski endorses the CBDMedic line of products made by Abacus Health Products, which was sold to Charlotte’s Web Holdings earlier this year in an all-stock transaction valued at $69 million.
A news release with additional information on the partnership between Biosteel and Mahomes is included below.
Biostell Sports Nutrition Inc. Signs Multi-Year Deal with Super Bowl MVP Patrick Mahomes
NEW YORK, NY – BioSteel Sports Nutrition Inc. (“BioSteel”) today announced a momentous partnership between the sports nutrition company and Patrick Mahomes, the new face of the NFL and entrepreneur, as he joins the company’s roster of elite athletes as a partner. The deal is the first of its kind for Mahomes since winning the Super Bowl earlier this year.
In partnering with Mahomes, BioSteel continues to lead the wave of health sports nutrition. The star quarterback brings a dynamic perspective to the brand as an influential and powerful athlete and businessman. The partnership will help reaffirm the brand’s position as one that redefines healthy sports nutrition.
Patrick Mahomes was first recommended BioSteel products by his trusted trainer, Bobby Stroupe. In two short years, Mahomes has been able to win a Super Bowl, become league MVP and secure the sport’s highest paid contract. With BioSteel set to take on the U.S. marketplace, the time for this ground-breaking partnership is ideal.
“I have been using BioSteel’s products for years, and I love that its products are all-natural and sugar-free,” says Mahomes. “I’ve been fortunate enough to be educated on sports nutrition by the best, and I want to pass along this knowledge to today’s youth.”
BioSteel is expanding in the U.S. market at a rapid pace, securing the country’s top grocery, mass, gas, and convenience retailers, with direct distribution partners across the country to support this growth. The brand is extending its U.S. footprint and reaching new health-minded consumers, athletes, and sports fans through its partnership with Mahomes.
“We’ve provided Patrick’s trainer Bobby Stroupe with BioSteel product for years and have always known Patrick to be a big fan of the brand,” says John Celenza, Co-Founder and Co-CEO of BioSteel. “As we move into the U.S., the timing made sense to partner with Patrick. Authenticity is everything to us, which made partnering with him an easy choice.”
“As an athlete and businessperson, I’ve sat on both sides of these deals. I went down to train with Patrick at Bobby’s gym and was able to spend time with him and his team,” says Michael Cammalleri, Co-Founder and Co-CEO of BioSteel. “I could not be happier with Patrick being the person that helps lead and amplify our brand.”
As a member of Team BioSteel, Mahomes will help increase awareness for the BioSteel brand as it continues to rise within its category and take on the industry’s giants.
BioSteel is a North America operated sports nutrition company that was built on the mandate of providing the safest, healthiest, and most effective line of nutritional products available. BioSteel’s line includes a range of nutritional products including proteins and everyday essentials. BioSteel products are currently readily available across North America, and globally with select retail partners or direct to consumers online, through www.biosteel.com.