NBA MVP Giannis Antetokounmpo has earned more than $150 million in his career in salary and endorsements. He's making his first investment in Ready Nutrition, which makes a low-sugar, high-protein water by kbadenhausen
Antetokounmpo was drawn to Ready Nutrition founder Pat Cavanaugh, who was also an underdog who defied the odds. Cavanaugh was an undersized, walk-on basketball player in the late 1980s at the University of Pittsburgh who later earned a scholarship and was named team captain. He launched Ready Nutrition in 2012 and posted sales of more than $100 million last year on double-digit growth. “What I love about Giannis, we both started from nothing and built ourselves up,” says Cavanaugh.
He originally connected with the “Greek Freak” through another Greek basketball player, Sotiris Aggelou, who followed Cavanaugh at Pitt. Antetokounmpo and Cavanaugh talk about having a “shared mentality,” and their partnership evolved over 18 months, leading to today’s announcement by Ready Nutrition of its superstar investor. There is an endorsement component in the agreement, but Giannis downplays that part of their pact.
Neither Cavanaugh nor Antetokounmpo would comment on the terms of the deal, but it is expected to be “significant” for someone who, at 25 years old, has already made more than $150 million in his career from salary and endorsements. “The best partnerships are ones that don’t necessarily need each other,” says Antetokounmpo’s agent at Octagon, Alex Saratsis.
The products of Ready Nutrition, which is based outside Pittsburgh, are currently available in more than 8,000 retail outlets across North America and were recently added to Walmart
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