Kansas City Chiefs quarterback Patrick Mahomes just became one of the owners of Major League Baseball’s Kansas City Royals.
Mahomes, who led the Chiefs to a Super Bowl win earlier this year, recently signed the most lucrative contract in the history of U.S. professional sports, an extension worth as much as $503 million.
“We are very proud and excited to have Patrick as our partner in the ownership group of this franchise,” John Sherman, owner of the Royals, said in a statement.
The former NFL MVP has a wide portfolio of endorsement deals including Adidas ADDYY, -0.96% , Coca-Cola KO, -0.61% , State Farm STFGX, -0.64% and Oakley EL, +0.65%
“I’m honored to become a part owner of the Kansas City Royals,” Mahomes said in a statement. “I love this city and the people of this great town. This opportunity allows me to deepen my roots in this community, which is something I’m excited to do.”
Mahomes has ties to Major League Baseball too. The chiefs quarterback played two years of baseball in college, and was selected with a 37th-round draft in the 2014 MLB Draft. Mahomes decided to pursue football instead.
See also: MLB pauses season of Miami Marlins as 18 players and coaches test positive for the coronavirus
In addition, his father, Pat Mahomes Sr., played 11 years in the MLB with the Minnesota Twins, Boston Red Sox, New York Mets, Texas Rangers, Chicago Cubs and Pittsburgh Pirates.
It’s not public how much equity in the Royals Patrick Mahomes bought, but John Sherman remains the controlling owner of the team.
Forbes reports that the Royals are the 28th-most valuable franchise in baseball – out of 30 teams – with a total value of $1.025 billion.
Good for him.Â
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Probably one of the smartest things an NFL player has ever done. I highly doubt they will lose money in the long run, and it will be an asset he can always use. If he remains an owner, I suspect he’ll pursue a career in the front office after retiring from football.Â
Love Mahomes.Â
Super smart and hard working.Â
Hope he continues to succeed.
Mahoomes supports racism and BLM. Â NO THANKS RACIST
May sound like a stupid question but....where did he get the capital to become part owner?
Yes I'm aware he just signed a huge deal but it's not like that money is in the bank....not sure how much is guaranteed...what's not guaranteed? NFL contractsÂ
Smilin like Rashad -ÂMay sound like a stupid question but....where did he get the capital to become part owner?
Yes I'm aware he just signed a huge deal but it's not like that money is in the bank....not sure how much is guaranteed...what's not guaranteed? NFL contractsÂ
 His deal was for $60 mil plus at signing. Guaranteed.
Just putting those roots down even deeper than he already had! Anybody mention he's not even 25 yet? It's so nice to finally have THE GUY that's the envy of the rest of the league. Now all we need is for COVID to go fuck itself and we can get this year's Super Bowl run rolling!
Doomsday -Smilin like Rashad -ÂÂMay sound like a stupid question but....where did he get the capital to become part owner?
Yes I'm aware he just signed a huge deal but it's not like that money is in the bank....not sure how much is guaranteed...what's not guaranteed? NFL contractsÂ
 His deal was for $60 mil plus at signing. Guaranteed.
They had some former agent on the radio today breaking down his contract in detail, the same contract that everyone nationally has been shitting on for the last week. Basically, it's the opposite of what every national talking head moron has been saying. It's all but guaranteed unless they trade or cut him (literally the last thing in the NFL that would ever happen) and will eventually be worth a lot more than the $450 - $503 million that's on the contract. Add to that the insane amount of endorsement money he's gonna be making and the wise investments he's already making and we've got a guy in K.C. that'll probably be joining Tiger and Jordan in the elite billionaires club in 15 years or less.
Smilin like Rashad -May sound like a stupid question but....where did he get the capital to become part owner?
Yes I'm aware he just signed a huge deal but it's not like that money is in the bank....not sure how much is guaranteed...what's not guaranteed? NFL contractsÂ
Even if he just had $250,000 in the bank, I don't think it'd be that hard for him to get a loan at this point if he wanted to purchase a small country.
And…he bought a Ferrari today