Dallas Mavericks star Luka Doncic takes equity stake in BioSteel

Dallas Mavericks star Luka Doncic takes equity stake in BioSteel

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Luka Doncic #77 of the Dallas Mavericks drives to the basket versus Dwayne Bacon #8 of the Orlando Magic throughout the 2nd half at Amway Center on March 1, 2021 in Orlando, Florida.

Alex Menendez | Getty Images

National Basketball Association star Luka Doncic provided himself a birthday present – an equity stake in sports nutrition maker BioSteel.

The Dallas Mavericks star signed up with the growing list of professional professional athletes with an ownership stake in the business as part of a multi-year recommendation offer. Terms of Doncic’s equity stake in BioSteel were not supplied.

BioSteel co-founder and ex-hockey gamer Michael Cammalleri stated Doncic’s addition would assist the business broaden worldwide.

“As an athlete and businessperson, I’ve been exposed to both sides of these deals. Luka is a fierce competitor, and we couldn’t be happier to welcome him to Team BioSteel,” stated Cammalleri, who played 15 seasons in the National Hockey League. “As we continue to expand into the U.S. market at a rapid pace, we’re excited to announce and partner with someone like Luka who is passionate about clean, healthy, hydration, to amplify our story and accelerate our growth.”

BioSteel was established in 2009 and focused on sports nutrition items, consisting of beverages and protein powders. The business included National Football League stars Patrick Mahomes and DeAndre Hopkins to its equity lineup in 2020.

In 2019, marijuana company Canopy Growth acquired a bulk stake in BioSteel. The company wishes to continue its development in the U.S. market and get more retail rack area in supermarket, gasoline station and corner store for its BioSteel sports beverage.

Luka Doncic drinking BioSteel

Photo: Jason Chinnock | BioSteel

The market is forecasted to reach $32 billion by 2025 and presently controlled by PepsiCo’s Gatorade, Coca-Cola’s Powerade and Bodyarmor.

Doncic stated he ended up being a fan of BioSteel items when the business ended up being a business sponsor for the Mavs in October. This is Doncic’s very first equity offer and his 2nd recommendation. In 2019, he signed a recommendation handle Michael Jordan’s Nike-run garments brand name.

“I’m still young,” Doncic informed CNBC when inquired about his company goals far from basketball. “I’m still trying to learn a lot of things. This is a big step for me signing with BioSteel.”

Doncic, who turned 22 on Feb. 28, is balancing 28.6 points, 9 helps 8.4 rebounds this season. The Slovenia native is likewise a two-time NBA All-Star and set up to take part in Sunday’s 2021 video game that was moved to Atlanta due to Covid-19.

“I’m excited,” Doncic stated. “It’s a dream come true for me — for every kid that plays basketball — to make an All-Star game. It’s amazing.”

Asked if he’ll win the video game’s MVP, which was called after NBA icon Kobe Bryant, Doncic reacted: “Probably not.”

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