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Sunday, November 22, 
4:43 am

New York Mets players take a sip of SoNu

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Santana_reyes125x100.gifJohan Santana and Jose Reyes are two of the brightest stars and highest paid New York Mets players. Now, the two will be moonlighting as pitchmen for SoNu Beverages in exchange for minority stakes in the startup, according to AdAge.

The trend of startups exchanging endorsements for equity is nothing new, but with money tight in a recessionary economy and startups (especially in the beverage industry) looking for a way to hire recognizable faces to pitch their products, it may be on the verge of exploding.

The SoNu deal gives each player a 1% stake in the company, according to the players' agent, Chris Leible, VP at Peter E. Greenberg & Associates, AdAge reported. The opportunity potentially could be a financial home run for Reyes and Santana as volume has increased 8% for the flavored and enhanced water sector while the entire beverage category declined 2% in 2008, according to Beverage Marketing Corp.

Fellow Met teammate David Wright scored two years ago when noncarbonated drink maker Glaceau, which he reportedly had a 0.5% minority stake in, was acquired by Coca Cola Inc. for $4.2 billion in cash. The deal reportedly netted Wright nearly $20 million. - Gerald Magpily

See Dealscape: Wright hits a home run with Glaceau sale
See AdAge: Beverage Brand Swaps Equity for Mets' Endorsements





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