Pat McAfee announced the Bud Light drink partnership on 13 January 2023. The famous beer brand now sponsors the Pat McAfee Show.
McAfee, a former player for the Indianapolis Colts in the NFL from 2009 to 2016 transitioned to the broadcasting industry after his retirement and launched The Pat McAfee Show podcast.
Pat has secured multiple sponsorship deals through his podcast, including a four-year contract worth $120 million with FanDuel, now the sole provider of odds for The Pat McAfee Show.
In addition to his sponsorships, McAfee has frequently mentioned Bud Light on his show as his preferred brand.
However, the recent partnership controversy with trans-TikToker Dylan Mulvaney has led to a backlash, causing a decline in Bud Light sales.
Pat McAfee Strikes A Deal With The American Beer
Pat McAfee and Bud Light strike a deal after renewing with NFL for $1.4 billion in 2015. The beer is now part of The Pat McAfee Show broadcast.
During the show, Pat expressed his fondness for the brand and shared details about the partnership. He also encouraged users to order their first Bud Light on Drizzly with code WHADD for a $5 discount.
Additionally, he extolled the beverage's quality, stating that it is crafted with natural agave and triple-filtered with natural fruit flavors such as Wild Berry, Citrus, and Blood Orange.
Furthermore, the show discussed the "Kick Me Some Bud Light" contest at length and expressed their excitement about combining their two favorite things: lengthy field goals and complimentary beer.
The contest began in July 2020 when Brandon McManus wanted to break the NFL record for the longest field goal, as per the tweet.
To generate excitement around the concept, Bud Light promised to provide the entire city of Denver (21+) with free beer if McManus surpassed the NFL's field goal record of 64 yards.
How Much Did Bud Light Stock Drop
Bud Light stock price hasn't dropped. However, notable figures are boycotting the brand for its partnership with Mulvaney.
The recent partnership between Bud Light and TikToker Mulvaney has sparked a significant contraction in the beer's sales, particularly in the Midwest, South, and rural regions.
Anheuser-Busch, the parent company of Bud Light, has received reports from its distributors regarding the dwindling sales volume over the weekend, as reported by the trade publication Beer Business Daily.
Additionally, a video featuring a self-proclaimed merchandiser for an A-B affiliate went viral on Twitter, in which he bemoaned the poor sales and their deleterious effect on his livelihood.
He remarked that he had never observed such meager sales in the past few days and that the decreased demand for the product jeopardized his ability to sustain himself and his family.
Anheuser-Busch Stock Dropped By 3 Percentage
On April 10, 2023, the stock price of Anheuser-Busch InBev experienced a slight decline due to the ongoing negative response to the company's partnership with influencer and activist Dylan Mulvaney.
Mulvaney shared on Instagram last week that Bud Light had sent her commemorative beer cans with her image to celebrate her first anniversary of gender transition.
Following this, right-wing musician Kid Rock posted a video of himself with Bud Light cans for target practice on social media. At the same time, country star Travis Tritt proclaimed he would no longer sell Budweiser at his concerts.
The financial news website TheStreet reported that Anheuser-Busch InBev's stock had dropped by 3% on Monday (April 10th) but also noted that this came after a 10-day period of growth that had driven the stock price to its highest point in 52 weeks.
According to Cowboy State Daily, Anheuser-Busch released a statement expressing support for Mulvaney. The parent company of Bud Light stated that it collaborates with numerous influencers for its brands to engage with audiences of different demographics authentically.
Anheuser-Busch clarified that they occasionally create exclusive commemorative cans for brand influencers and fans, such as the one featuring Mulvaney's face.
The company emphasized that this special edition was a personal gift to celebrate Mulvaney's achievement and is not available for public purchase.
Anheuser-Busch Stock Price
Anheuser-Busch is a beer brewing company, and Bud Light is one of its popular beer brands.
The financial information provided by wsj.com shows that the company has a P/E ratio of 21.78 as of April 11, 2023, which means that investors are willing to pay $21.78 for every $1 of earnings the company generates.
In terms of earnings, Anheuser-Busch has an EPS (TTM) of $2.99, which indicates the company's profit for each outstanding stock share.
The company's market cap, which is the total value of its outstanding shares, is $131.16 billion, with 1.74 billion shares outstanding. The public float, or the number of shares available for trading in the open market, is 1.70 billion.
Pat McAfee Net Worth
McAfee has a net worth value of 30 million dollars. McAfee started his two-hour weekday radio show The Pat McAfee Show in August 2019.
It's a sports-focused program that airs weekdays from noon ET to 3 p.m. ET. Before hosting his show, the 35-year-old spent seven seasons playing football with the Indianapolis Colts, earning over $15 million from salary and bonuses throughout his career.
His most substantial contract was in 2014, a five-year deal worth $14 million, including $5 million in guarantees, after earning around $4.7 million in his first five seasons with the team.
On December 9, 2021, McAfee announced a significant four-year deal with FanDuel, reportedly worth $120 million, establishing them as the exclusive odds provider for The Pat McAfee Show.
In addition to his sports career, McAfee has also dabbled in comedy and professional wrestling analysis. He participated in WWE's NXT TakeOver: New Orleans and NXT TakeOver: Chicago as a panelist in 2018.
