Just hanging up the cleats a few months ago, future NFL Hall-of-Fame quarterback Drew Brees will not be lost to sporting fans around the world having quickly been snapped up by sportsbetting company PointsBet (ASX: PBH) as their newest brand ambassador.
Brees, who was loved by all NFL fans as one of the greatest quarterbacks of his generation and the face of New Orleans for 15 years having famously led the New Orleans Saints to Superbowl victory in 2010. For many, it is widely regarded as the galvanising of New Orleans after the city was devastated by Hurricane Katrina five years earlier.
“Today is a massive day for our company as we welcome the legendary Drew Brees into the PointsBet family,” said PointsBet USA CEO, Johnny Aitken.
“Drew is renowned for his tireless work ethic and achieved great success in his career regardless of the obstacles in front of him. He possesses the scrappy, well-prepared challenger, win-at-all-costs mentality that embodies PointsBet’s DNA.
“We look forward to collaborating for years to come and integrating Drew across our portfolio of brand channels, including linear and digital content, while unlocking unique ways to jointly weave PointsBet into greater sports and sports betting narratives.”
As a recently-retired superstar of American sports, the signing of Brees on a 3-year deal is a major coup for PointsBet, with the Superbowl champion being one of the most recognised faces in sports. He joins 4-time NBA champion Shaquille O’Neal and golf influencer Paige Spiranac as the faces of PointsBet where the bookmaker will undoubtedly have some clever skits scripted for the trio that resonate with sports fans around the world.
Making the signing even better for PointsBet shareholders is the deal has been inked as a non-cash contract with Brees now having ‘skin in the game’, signing on in exchange for 202,940 PBH shares. At their last $12.46 close price, it equates to roughly $2.5m but could be substantially more if PointsBet continues its hyperbolic growth in the US.
“I am excited to team up with PointsBet, a leader in the future of sports entertainment built off elite technology,” said Brees.
“Sports betting is growing across the country and will positively impact sports engagement, and I am proud to be at the forefront alongside PointsBet and NBC Sports.”
As of 31 March 2021, PointsBet had increased it’s US customer base by 461% over the past year to 127,000 active US clients. That number continues to rapidly grow as PointsBet continues to secure sportsbetting licences in new US States.
Having only commenced operating in the US two years ago, that number of active clients is set to eclipse their Australian figure of 158,000 active customers in their home country where PointsBet was originally founded.
The growth of PointsBet in the US has been the driving force of its share price which has risen from their $2 IPO price when the Company listed on the ASX in June 2019.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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