Patrick Mahomes Endorsed Sports Drink Company That Burns $15,000,000 Every Month, Files For Bankruptcy Protection As They Plan To Lay Off 181 Employees




Sports drink company, BioSteel which is endorsed by NFL star QB Patrick Mahomes has recently filed for bankruptcy protection 14 years after its launch. As per CBC News, 


BioSteel is heading towards a period of “hibernation” after Ontario-based Canopy Growth ceased funding BioSteel Sports Nutrition Inc. which is burning $15,000,000 every month in operations. The company has also splurged a lot of money on its marketing as they have partnered with a wide range of athletes from the NBA, NHL, NFL, and other sports. 


 Including Patrick Mahomes other NFL stars that partnered with BioSteel are Ezekiel Elliott, Jalen Ramsey, and DeAndre Hopkins. As part of its asset protection process, the company is also laying off 181 of its total staff of 190 employees.


 Patrick Mahomes Endorsed BioSteel Files for Bankruptcy Protection Patrick Mahomes has been a part of their team since 2020. The then-young gun of the NFL had signed a multiyear deal with the sports drink company after he won the first Super Bowl of his career.


 Fast forward three years and the company is seeking creditor protection after commencing proceedings under the Companies Creditors Arrangement Act (CCAA

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