NFL Legend Rob Gronkowski Didn't Want Stock For His Drink Endorsement — Years Later It Paid A 'Huge Check'

Rob Gronkowski played 11 seasons in the NFL and was able to make millions playing and from endorsement deals. Similar to some other athletes, he used his endorsement money to live off of and tried not to dip into his earnings. One endorsement deal didn’t pay out cash though, leaving the young NFL star confused.

Rob Gronkowski’s BodyArmor Deal

Gronkowski was one of the first athletes to sign an endorsement deal with sports drink brand BodyArmor, several years before NBA star Kobe Bryant attached his name to the brand.

"They gave me stock and some cash and I was so pissed I got stock. I didn’t know anything about stock," Gronkowski said on the "Free Range with Von Miller" podcast.  

Gronkowski said at the time he didn’t know anything about the stock market and his knowledge for business was limited.

"What am I going to do with this stock? Like this isn’t cash. This is stupid."

The NFL tight end would later leave BodyArmor, as the company wanted to keep paying him in stock and equity investments instead of cash. Gronkowski had enough and made the switch to Monster Energy, a unit of Monster Beverage (NASDAQ:MNST) in 2015.

BodyArmor sold years later to Coca-Cola (NYSE:KO), with the company valued at $8 billion.

"I got this big check in the mail, and it was from BodyArmor from the sale."

Gronkowski’s Endorsement Lesson

Gronkowski went from hating stocks he got to being glad that he hung onto his stake in the private company.

The NFL star made an undisclosed amount on the BodyArmor stake he had, previously saying it was a "couple million dollars," as reported by Forbes.

Gronkowski’s payment from Monster is also unknown, but it’s likely that he could have made more if he would have stayed with BodyArmor.

Bryant accumulated a 10% stake in BodyArmor through his endorsement and investments and his estate was able to make around $400 million after Coca-Cola completed its buyout of the company.

For athletes there is a tough decision when working with private companies of receiving equity or cash, or a mix of both.

While not every private company works out or has an exit opportunity like an IPO or buyout, some do and can pay off nicely for athletes and celebrity backers who traded endorsements for equity.

Image via Shutterstock/ Pe3k