Patrick Mahomes entrepreneurial prowess is one for elite athletes to follow
Kansas City Chiefs quarterback Patrick Mahomes' performance and success on the field is well documented. Mahomes has racked up numerous accolades and other honors for all that he has already accomplished with the Kansas City Chiefs at just 26 years old.
But football isn't the only passion that Mahomes puts a lot of work into. Since signing his ten year extension last summer (that with bonuses could exceed $500 million), Patrick Mahomes has made some significant investments as an entrepreneur.
Patrick Mahomes investment technique is one other athletes could learn from
In the summer of 2020, Kansas City Chiefs quarterback Patrick Mahomes signed a ten-year extension. The contract, that could surpass $500 million, is one for the record books.
Mahomes said at the time that he planned on using the money he earned to invest for his and his family's future.
Shortly after, Mahomes was announced as the newest member of Major League Baseball's Kansas City Royals ownership group as a minority stakeholder. Buying into the Royals was not the only Kansas City sports franchise that Mahomes bought into.
Earlier in 2021, Patrick Mahomes also joined the Sporting Kansas City Major League Soccer ownership group. Mahomes can often be seen at games for those franchises supporting the teams.
It's part of his initiative to support fellow Kansas City sports teams.
A Texas native, Patrick Mahomes has expressed his love for the "Whataburger" fast food franchise. Mahomes said he wished they had restaurants in the Kansas City metropolitan area.
What did he do to change that? Mahomes joined an investment group that is expanding the "Whataburger" fast food franchise into Missouri and Kansas. The first franchise opened just about two weeks ago and immediately drew a large line.
The group plans to open a total of 30 restaurants in the area within the next few years.
Patrick Mahomes' 2020:
• won a Super Bowl
• made Whataburger expand
to Kansas City
• got a 10-year,
$503-million extension
• is now part owner of
the Kansas City Royals https://t.co/sJ1lMu1rl9
Patrick Mahomes is building is investments resume
Mahomes also has a number of endorsements, with his biggest being with Adidas. Mahomes is not only an Adidas athlete but also had his own signature shoe with the brand.
Mahomes has other endorsements, such as Head & Shoulders and State Farm which he does commercials for as well as Oakley and Hunt's after his love of ketchup was revealed.
NBA champion Giannis Antetokounmpo of the Milwaukee Bucks took a page out of Mahomes' book and became part of the ownership group for the Milwaukee Brewers this summer. Being a part of a smaller sports city and investing in other professional sports is a great way to support all athletes that play and invest in the community.
NBA champion LeBron James bought into the Boston Red Sox franchise earlier this year as well.
Milwaukee Bucks superstar Giannis Antetokounmpo is purchasing a stake in the Milwaukee Brewers, sources tell ESPN. Follows the model of Patrick Mahomes: small-market star investing in the local baseball franchise, which Mahomes did in joining the Royals' ownership group.
Not only will Patrick Mahomes still have a large contract to live off of when he eventually retires from the National Football League, but his business ventures will continue to bring in income. Creating a brand and a business is just one of the ways that an athlete can build a legacy and not enough choose to invest their wealthy contracts in that way.
Also Read: Who is Patrick Mahomes' brother, Jackson Mahomes?