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Dallas Mavericks star Luka Doncic acquires a stake within the sports activities drinks producer BioSteel

Luka Doncic # 77 of the Dallas Mavericks heads to the basket against Dwayne Bacon # 8 of the Orlando Magic in the second half at the Amway Center on March 1, 2021 in Orlando, Florida.

Alex Menendez | Getty Images

The star of the National Basketball Association, Luka Doncic, gave himself a birthday present – a stake in the sports nutrition manufacturer BioSteel.

The Dallas Mavericks star joined the growing list of professional athletes involved in the company on a multi-year endorsement deal. The terms of Doncic's participation in BioSteel were not disclosed.

BioSteel's co-founder and ex-hockey player Michael Cammalleri said the addition of Doncic would help the company expand internationally.

"As an athlete and businessman, I've been exposed to both sides of these deals. Luka is a tough competitor and we couldn't be happier to welcome him to Team BioSteel," said Cammalleri, who played 15 seasons in the National Hockey League. "As we continue to expand rapidly into the US market, we are excited to announce and work with someone like Luka who is passionate about clean, healthy, and moisturizing products to expand our history and accelerate our growth." "

BioSteel was founded in 2009 and specializes in sports nutrition products such as beverages and protein powders. The company added National Football League stars Patrick Mahomes and DeAndre Hopkins to its equity list in 2020.

In 2019, cannabis company Canopy Growth acquired a majority stake in BioSteel. The company plans to continue its growth in the US market and obtain more retail space in grocery stores, gas stations and convenience stores for its BioSteel sports drink.

Luka Doncic drinks BioSteel

Photo: Jason Chinnock | BioSteel

The market is expected to reach $ 32 billion by 2025 and is currently dominated by PepsiCo's Gatorade, Coca-Cola's Powerade, and Bodyarmor.

Doncic said he became a fan of BioSteel products when the company became corporate sponsor for the Mavs in October. This is Doncic's first equity deal and his second endorsement. In 2019, he signed an endorsement deal with Michael Jordan's Nike-run clothing brand.

"I'm still young," Doncic told CNBC when asked about his business goals outside of basketball. "I'm still trying to learn a lot of things. This is a big step for me to sign with BioSteel."

Doncic, who turned 22 on February 28, averages 28.6 points, 9 assists at 8.4 rebounds this season. The Slovenian native is also a two-time NBA All-Star and is slated to compete on Sunday 2021, which has been relocated to Atlanta due to Covid-19.

"I'm excited," said Doncic. "For me – for any kid who plays basketball – making an all-star game is a dream. It's amazing."

When asked if he'll win the MVP of the game named after NBA icon Kobe Bryant, Doncic replied, "Probably not."

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