I’m trying to build a business empire

Super Bowl champion and Kansas City Chiefs star quarterback Patrick Mahomes isn’t just focused on building an empire on the pitch, he’s looking to plant his flag outside of the sport as well.

“I’m trying to build an empire off the pitch in any way,” Mahomes, 25, told Yahoo Finance Presents. “I watch a lot of great athletes who have come before me and they’ve found ways to build their empire and to build themselves off the pitch, so I’m trying to do that as much as possible.”

Mahomes says sports legends such as Michael Jordan and Alex Rodriguez are role models for his business, as is well-known entrepreneur and Dallas Mavericks owner Mark Cuban.

To be sure, Mahomes got off to an impressive start in his business empire building ambitions.

After signing a record 10-year, $ 503 million contract in 2020, Mahomes bought a minority stake in the Kansas City Royals. He then invested an undisclosed sum for a stake in the booming wearable device company Whoop. The tech unicorn is estimated to be worth around $ 1.2 billion.

These moves come in addition to the fact that Mahomes has made deals with sportswear maker Adidas, sports recovery device seller Hyperice, NetJets competes with Airshare and supplement seller BioSteel.

More recently, Mahomes looked into the exploding NFT market (earlier this month he reportedly sold $ 3.4 million worth of NFT) and tied his name to a PSPC that is looking for technological investments.

Mahomes admits that not all of his investments have been fierce successes. But, he learned a lot from his business failures.

“The most important thing is to do the things that you love and have a passion for, because if you do that you usually find a way to make it work. It has been important to me, not just investing in everything. , but to invest… in things that you really believe in, ”Mahomes said.

As for adding stocks to his investment portfolio, Mahomes leaves it up to his financial advisers.

The story continues

“I do a little [of dabbling in stocks], but I usually have a financial advisor pointing me in the right direction this way. I’m pretty conservative, I would say myself, but as I’ve learned more and more, I’m trying to do a little more, ”added Mahomes.

Brian Sozzi is an editor in general and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

What’s Hot From Sozzi:

Watch Yahoo Finance’s live programming on Verizon FIOS channel 604, Apple tv, Amazon Fire TV, Year, Samsung TV, Pluto TV and Youtube. Catch Yahoo Finance Online at Twitter, Facebook, Instagram, Flipboard, SmartNewsand LinkedIn.