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MusclePharm adds Tiger Woods to stable of endorsers

27-Jun-2014
Last updated on 05-Aug-2014 at 20:41 GMT - By Hank Schultz
MusclePharm adds Tiger Woods to stable of endorsers
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Sports nutrition firm MusclePharm has concluded a deal with Tiger Woods to feature the comapny’s logo on his golf bag. Woods reportedly will receive an undisclosed annual fee and stock currently worth about $5 million.

MusclePharm, based in Denver, markets a complete line of protein powders, preworkout products and supplements.  The company has been growing rapidly.  It reported more than $50 million in earnings in its last quarterly statement, with 123% year-over-year growth. The company's stock price jumped more than 10% after the announcement.

The deal figures into MusclePharm’s overall strategy of allying itself with the biggest names in sports.  Last year the company launched a line of supplements co-branded with Arnold Schwarzenegger, the biggest name in the business. The launch of those products in the most recent quarter was highly successful, accounting for 30% of sales.  The company also reported moving over into profitability for the first time, and reasserted its full-year sales growth guidance at 33%.

The company also counts San Francisco 49ers quarterback Colin Kaepernick and New York Jets wide receiver Eric Decker among its endorsers.  MusclePharm co-founder and CEO Brad Pyatt is himself a former NFL player.

Related topics: Manufacturers, Proteins, peptides, amino acids, Energy, Sports nutrition