- NFL star quarterback Patrick Mahomes joined performance recovery technology company Hyperice as an investor and brand ambassador.
- Terms of his equity stake were not announced.
- With the transaction, Mahomes adds to his equity portfolio after agreeing to deals with a sports nutrition company and a minority ownership stake in the Kansas City Royals.
Patrick Mahomes is on a winning streak.
Days after the Kansas City Chiefs quarterback helped increase ESPN's "Monday Night Football" ratings and announced he's expecting his first child, Mahomes secured a new private investment on Thursday.
Mahomes joined performance recovery technology company Hyperice as an investor and brand ambassador. Terms of his equity stake were not announced by the company.
Hyperice, founded in 2010 by Anthony Katz, says it uses "percussion, vibration, and thermal technology" in its recovery and fitness equipment and makes the Hypervolt massage device.
Mahomes will use his name and image to promote Hyperice in its global recovery technology category. The company said he will also increase brand awareness of Hyperice's "newly launched HyperSmart connected technology devices and data-driven digital ecosystem."
"I've used Hyperice throughout my career as an instrumental part of my overall training and recovery routines to ensure I'm performing at my peak on game day," Mahomes said in a statement. He said the partnership provides him the resources to "to accelerate my recovery time" after playing football.
In March, Hyperice acquired NormaTec, a popular compression system that helps athletes with muscle tissue recovery, as it looks to gain market share in a sports technology marketplace projected to be worth $30 billion by 2024. Hyperice CEO Jim Huether told CNBC the company is expecting to double the $100 million in revenue it earned in 2019.
The company also agreed to a deal with the National Basketball Association to occupy the league's "Official Recovery Technology Partner" sponsorship slot. Other investors in Hyperice include Memphis Grizzlies guard Ja Morant, U.S. Open Champion Naomi Osaka and Detroit Pistons forward Blake Griffin.
"Hyperice is the leader in one of the fastest-growing health and wellness categories, recovery technology, and the alignment with Patrick only accelerates our growth trajectory," Huether said a statement.
"Patrick is the most dynamic and versatile young talent in the NFL. As impressive as he is on the field, his investment in and advocacy for Hyperice shows his forward-thinking approach to future successes off the field," he added.
Mahomes, 25, has racked up new deals in 2020. In July, the Super Bowl LIV MVP signed a 10-year, $500 million extension with the Chiefs and became a minority owner in Major League Baseball's Kansas City Royals franchise. Mahomes also become an equity partner in sports nutrition company BioSteel and has sponsorship deals with State Farm, Adidas and Oakley.
Mahomes returns to the field this Sunday for another national game against Cam Newton and New England Patriots.