Top NBA pick on Uptime endorsement
Cade Cunningham, the top pick in the National Basketball Association’s 2021 draft, has added another promotional deal to his portfolio. The 19-year-old striker is now with energy supplement company Uptime.
Cunningham will act as the brand ambassador for this deal, promoting uptime products. Financial terms were not disclosed, but the company’s equity is not included, according to Cunningham.
California-based Uptime launched a line of energy drinks in 2014, and the product is sold in over 35,000 locations as well as on Amazon. According to Pitchbook, Uptime raised $ 11.7 million. Uptime said it had increased sales by 50% year over year in 2021 but didn’t release actual numbers.
On the hunt for LeBron’s billions
Cunningham was first drafted by the Detroit Pistons in Thursday’s 2021 NBA draft. He averaged 20.1 points and 6.2 rebounds in his only season in the state of Oklahoma.
Often times, top NBA picks sign drink-like deals with Pepsi’s own Gatorade and equity deals with Bodyarmor. Though Uptime is a much smaller company, Cunningham said it was “in line” with their vegan lifestyle. The company said it uses natural caffeine from green tea in its products.
Cade Cunningham poses for a picture after being drafted first overall winner by the Detroit Pistons during the 2021 NBA Draft on July 29, 2021 at the Barclays Center in Brooklyn, New York.
Melanie Fidler | National Basketball Federation | Getty Images
“I chose a small business because I think I like the product they made,” Cunningham told CNBC. “I’m not just in favor of the big names just because the consensus says so. … I feel like I’m a good image for them and they make a great product. “
On the pitch, Cunningham is often compared to Dallas Mavericks superstar Luka Doncic. And with Cunningham’s low profile play and serenity on the pitch, he’s even heard comparisons with San Antonio Spurs icon Tim Duncan, who led the franchise to five NBA championships.
“I like that,” said Cunningham. “Tim, one could argue, is the greatest power forward of all time.
When asked about his new team, the Pistons, Cunningham said the franchise was moving in the right direction. “If I am able to step in and contribute, I want to take it to the next level.”
With his draft slot, he receives a multi-year contract worth over 40 million US dollars to start his professional career. On the advertising front, he reached an agreement with Nike on Tuesday and worked in a pact with the luxury department store Neiman Marcus who dressed him for the design event.
When asked who he would like to emulate in business off court, Cunningham mentioned LeBron James. The Los Angeles Lakers superstar has reportedly passed the $ 1 billion mark, making him the first active professional gamer to do so.
LeBron James speaks at LeBron James’ announcement of his future NBA plans at the Boys & Girls Club of America on July 8, 2010 in Greenwich, Connecticut.
Larry Busacca | Getty Images
“This is the best guy to look at right now as a young man coming into the league,” said Cunningham. He said James was a role model for the business side of the sport. He “got his story out so well, opened up and let people into his life. … Obviously he’s a great basketball player, but the things he does off the pitch – he changes the way the community thinks. “
Cunningham hired a financial advisor and said they had plans to generate income outside of basketball. He suggested investing in bitcoin and real estate, but he “doesn’t limit me to anything”.
When asked about the first stock he wanted to buy with his money, Cunningham picked Apple. The company announced its third quarter earnings Tuesday and posted revenue of $ 81.41 billion, up 36% year over year.
“I have a feeling Apple isn’t really losing,” said Cunningham. “So I’ll get something that I know will work.”
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