NFL tight end Rob Gronkowski received a significant financial payout after the sports drink brand BodyArmor was acquired by Coca-Cola. The deal, which valued BodyArmor at $8 billion, resulted in a payment to Gronkowski that he described as a "huge check." This payment came years after he initially signed an endorsement deal with the company.
Gronkowski was one of the first athletes to partner with BodyArmor. At the time of the initial agreement, the company offered him stock and cash. Gronkowski has stated that he was initially frustrated by the stock allocation, admitting he "didn’t know anything about the stock market" and questioned the value of the equity over cash.
Eventually, Gronkowski left BodyArmor in 2015 to switch to Monster Energy, a unit of Monster Beverage (NASDAQ: MNST). He made this move because the company continued to prefer paying him in stock and equity investments rather than cash. After leaving, he held onto his stake in BodyArmor.
The financial outcome of that stake was realized when Coca-Cola (NYSE: KO) completed its buyout of BodyArmor. Gronkowski previously mentioned the payout was a "couple million dollars." This outcome contrasts with the experience of NBA legend Kobe Bryant, whose estate reportedly earned around $400 million from a 10% stake in the company following the sale.
