15.5 C
New York

Josh Giddey Faces Potential Loss of $40 Million Weet-Bix Deal Amid NBA Investigation

Published:

Josh Giddey, the 21-year-old Australian NBA star, is in danger of losing his lucrative sponsorship deal with Weet-Bix, valued at $40 million, following an NBA investigation into allegations of his inappropriate relationship with a minor.

As one of the rising talents in the NBA, Giddey has been a sought-after figure for sponsors, including Weet-Bix, since 2021. However, recent claims of an inappropriate relationship, accompanied by photos circulating on social media, have put his endorsement deals at risk.

During his return to the basketball court on Saturday, Giddey faced questions about the accusations, responding with, ‘Yeah, I mean I understand the question obviously, but, err, there’s no further comment right now.’

Weet-Bix, the Australian cereal giant, expressed awareness of the situation and stated they are closely monitoring the fallout of the NBA investigation. A spokesperson for the company said, ‘We are obviously aware of news surrounding Josh Giddey and are waiting for facts to be confirmed. We are in contact with Josh’s management team and waiting on further detail at this point.’

Giddey, the face of Weet-Bix’s ‘Every Bite Counts’ campaign under a four-year AU$40 million deal, is a prominent figure on their product packaging. The brand has previously collaborated with other Australian athletes, including Tim Cahill, Alex de Minaur, and Marnus Labuschagne.

Photos posted on Twitter last week triggered the NBA investigation. Giddey, who has become a key player for the Thunder since being selected sixth overall in the 2021 NBA draft, was allowed to play against the Sixers in Oklahoma, marking his return to the court after the controversy surfaced.

The Thunder, with an 11-4 record, have had a strong start to the season, but the Giddey saga threatens to disrupt their campaign. The investigation looms over both Giddey’s professional career and his lucrative endorsement deals, highlighting the potential consequences of off-court controversies in the world of sports.

Written by:
Dana Sterling-Editor

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

spot_img

Recent articles

spot_img