Darren Rovell details how bad financial advice cost NBA legend Kobe Bryant an easy $23M payday
· Fox News
Long before Kobe Bryant built a colossal business empire off the court, he recruited a courtside sports reporter straight off the sidelines.
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Appearing on OutKick's "The Craig Carton Show," sports media vet Darren Rovell opened up about the moment the Lakers icon approached him at media day to make an out-of-the-blue pitch:
"You know, once a year you interview me on business. I think you're one of the smartest guys. I love business too, haven't done anything, and would love to figure out if there's some business thing we can get into together. Can I have your number?"
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That encounter launched an unconventional business partnership between Rovell and the NBA legend.
Kobe brought his "Mamba Mentality" straight to business school case studies and investment ideas. And Rovell quickly discovered Kobe’s mind was incapable of idling, even during dead-of-night text exchanges.
"3 a.m., 2 a.m., every time. Every time I responded, even though he was in L.A., there was the dot, dot, dot back. He's awake... same cycling brain, same everything," Rovell shared.
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When Kobe played Rovell one-on-one for his 30th birthday, he refused to let a single shot touch the rim. Rovell asked if he could at least get a shot off, and Kobe shut that down.
"No, of course not. You are not gonna beat me, so scoring a point is your victory," Rovell recalled Kobe saying to him.
But their defining turning point in business came in 2012 over KRAVE Beef Jerky.
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Rovell pitched buying a 10% stake for $8 million at an $80 million valuation. Kobe was ready to write the check, but his financial advisoe talked him out of it. Six months later, Hershey bought KRAVE for $291 million. Passing on the deal cost Kobe a staggering $23 million payday.
Instead of walking away, Kobe realized Rovell had a mind for business.
"I can't believe this," Kobe told him. "I'll put $10 million in your bank account right now. No questions asked. What are we going into?"
That blank check led straight to BodyArmor. Kobe poured his cash into the sports drink startup, ultimately netting an astronomical $444 million return when Coca-Cola acquired the brand and cementing the basketball icon as a legitimate venture capital heavyweight.
Pretty impressive, Darren.
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