Patrick Mahomes-Backed Company Files Bankruptcy
When BioSteel Sports Nutrition announced a deal with Patrick Mahomes in 2020, the sports nutrition firm was ecstatic.
Since Mahomes had just won the Super Bowl earlier that year, the deal was huge for him.
By collaborating with Mahomes, who is unquestionably the best quarterback and the face of the NFL,
BioSteel was meant to take the next step in establishing healthy sports nutrition as a trend.
Since then, the positive energy has diminished.The Mahomes-backed startup reportedly declared bankruptcy on Friday.
90% of the ownership in BioSteel is owned by Canopy Growth, which has applied for bankruptcy protection.
"The corporation, which derives the majority of its revenue from the cannabis industry, opted to stop investing the business and sell it instead.
The Ontario, Canada-based business claimed that the change will result in annual savings of more than $100 million CDN,
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