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May 26, 2007

Shea Pay Day

smartwater.jpgHoly Cow! We actually didn't even know that VitaminWater was made in Queens until Coca-Cola decided to buy the company for $4 billion. The Queens-based owners weren't the only people getting a fat pay-out from the purchase. David Wright, the Mets third baseman who endorses the product, accepted a small slice of equity in the company in lieu of payment last year. Now Wright's small stake in the company is worth $20 million.

Days after inking what would turn out to be his most lucrative endorsement deal, Wright told The Post he opted for an equity stake over a cash payment because "I believe in the company."

VitaminWater also has deals with pop star Kelly Clarkson, Red Sox slugger David Ortiz, Chicago Bears linebacker Brian Urlacher and San Diego Chargers running back LaDainian Tomlinson.

Wright denies that his equity is worth as much as $20 million, but rapper 50-Cent also has a stake in the company after sponsoring a flavor called "Formula 50".

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Comments (2)

That's just his accountant doing their job making him some extra dough .

 

How long till they make Vitamin Water as overly sweet as Snapple?

 
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