The late Kobe Bryant's estate is expected to receive more than $400 million from Coca-Cola's acquisition of 85 percent of sports drink BodyArmor in a deal that values the company at $8 billion.
The Lakers icon was among the earliest athletes to bet on BodyArmor, investing roughly $6 million for a 10 percent stake in the company in 2014.
The deal will also likely trigger eight-figure payouts to other of the earliest endorsers in the company, such as Buster Posey and James Harden.
More recently, Naomi Osaka, Mookie Betts, and Christian McCaffrey joined the group of athletes endorsing Body Armor.
Bryant focused on marketing BodyArmor, helping to recruit athletes like Osaka to the brand.
At the time of his original investment, Bryant commented that Gatorade had become “bland with no innovation.”
According to co-founder Mike Repole, BodyArmor would not have been as successful “if it wasn’t for Kobe Bryant’s vision and belief,
Last year, BodyArmor was the third biggest sports drink in the US and fifth globally.
The company is on track to post $1.4 billion in retail sales this year.
Repole and Lance Collins launched BodyArmor in 2011 as a healthier alternative to Gatorade for its low sodium content, electrolytes, coconut water, and antioxidants.
It has since become the official partner of UFC, MLS, and the US Open. Pop stars Carrie Underwood and Jennifer Lopez became endorsers this year.
In 2018, Coca-Cola acquired a 15 percent stake in BodyArmor for $300 million, which included a path to full ownership, based on a “pre-determined discount.”
