Derek Jeter is a new investor in Cincoro, which was founded in 2019 by NBA owners Michael Jordan, Jeanie Buss, Wes Edens, Wyc Grousbeck and Emilia Fazzalari.
PHOTO BY CHRISTIAN PETERSEN/GETTY IMAGES
Cincoro, the tequila brand launched by five NBA owners in 2019, has added more than a dozen new names to its cap table, including legendary athletes and businessmen with ties to the sports world.
The new investors include 23-time Grand Slam champion Serena Williams, MLB Hall of Famer Derek Jeter, major golf champions Dustin Johnson and Keegan Bradley, and Good Morning America host and NFL Hall of Famer Michael Strahan.
“Being part of Cincoro isn’t just about business—it’s about championing a legacy of greatness,” Williams said in a statement.
Jeter said Michael Jordan introduced him to the brand, and that he’s been an “avid fan” of the Cincoro Extra Añejo.
Other new owners are RedBird Capital Partners founder Gerry Cardinale, Washington Nationals owner the Lerner family, Silver Lake co-CEO Egon Durban, Boston Red Sox co-owner Tom Werner, DraftKings co-founders Jason Robins, Matt Kalish and Paul Liberman, as well as other prominent investors.
Cincoro was founded five years ago by NBA owners Jordan (Charlotte Hornets), Jeanie Buss (Los Angeles Lakers), Wes Edens (Milwaukee Bucks), Wyc Grousbeck (Boston Celtics) and Emilia Fazzalari (Celtics). It became a sponsor of the Lakers the same year.
The brand will expand internationally this summer and plans to leverage the star power of the new investors by incorporating them into experiential activations, appearances and media plans. Cincoro will also launch a new 375 milliliter bottle online and in retail stores in early May.
Tequila purchases have soared over the past decade, and the beverage now sits just behind vodka in U.S. sales. Revenue rose 8% in 2023, according to the Distilled Spirits Council.
“Cincoro has always been special to me because of the authentic friendships we’ve established around enjoying Cincoro and spending time together, designing it, experiencing it and tasting it,” Jordan said in a statement. “And now that we’re welcoming in some of my closest friends to the business, I’m looking forward to this next era of Cincoro alongside this all-star team.”