National Football League star Travis Kelce is making a significant investment in Sleep Number and will be part of a new national advertising campaign for the Minneapolis-based mattress company.
Sleep Number since 2018 has had a marketing deal with the NFL as its sleep and wellness partner.
Kelce — a tight end for the Kansas City Chiefs who also has a popular podcast with his brother, former NFL player Jason Kelce — has been a long-term customer.
“I’ve slept on a Sleep Number bed for years, and it’s been a constant through different seasons of my career and life,” Kelce said in a news release. “The ability to adjust the bed as my recovery needs change is something I’ve personally relied on.”
Kelce will buy some shares outright on the open market, the company said in the release. But he has also been granted restricted stock units that vest over three years.
Sleep Number didn’t disclose how many shares Kelce would own, other than that it would be less than 5% of outstanding stock.
“Travis Kelce brings a winning mindset on and off the field. He understands first-hand the importance of sleep in everyday performance, especially in recovery,” said Linda Findley, Sleep Number’s chief executive, in the release.
Only four organizations own more than 5% of Sleep Number’s outstanding shares; all are institutional shareholders.
