Anthony Edwards, Kyler Murray, and Bryce Young have joined Tracy McGrady in taking equity stakes in Karma Automotive, the Irvine-based luxury electric vehicle manufacturer. The company disclosed the athlete syndicate this week without publishing check sizes or total raise figures.
Karma builds low-volume EVs priced between $135,000 and $300,000—the Revero GT sedan and GS-6 sport model—selling roughly 1,100 units annually across North America and select export markets. The company emerged from Fisker Automotive's 2013 bankruptcy, acquired by Chinese auto-parts conglomerate Wanxiang Group, then restructured in 2021 under a new capital plan that included opening equity to strategic individuals. McGrady joined in early 2023; the Edwards-Murray-Young cohort arrived in a second tranche that closed last month.
The athlete ownership structure matters because Karma lacks the marketing budget to compete with Lucid, Rivian, or Porsche's Taycan in traditional media. Instead, it deploys equity as an endorsement substitute: athletes wear the product, post the product, appear at auto shows with the product, all while holding paper that vests over three years and pays out only if Karma hits production or exit milestones. Edwards' contract with the Timberwolves runs through 2029 at $244M guaranteed. Murray signed a five-year extension with Arizona in 2022 worth $230.5M. Young's rookie deal with Carolina pays $37.9M over four years, fully guaranteed. The cohort's aggregate salary provides Karma with $512M in implied lifestyle credibility without the $8M-$12M annual fee a traditional endorsement deal would require.
The timing aligns with Karma's plan to launch a $90,000 electric crossover in late 2025, targeting the same demographic that buys Range Rover Sport SVRs and BMW X6 Ms—buyers who want exclusivity but not obscurity. Edwards, Murray, and Young skew younger and Blacker than the typical Karma customer base, which has historically mirrored Tesla's early adopter profile: coastal, male, 45-60, tech or finance background. The athlete syndicate gives Karma permission to chase a different buyer without repositioning the entire brand. Whether the vehicle sells is another question; Karma has missed three prior production targets since 2019, and its supplier base remains fragile.
McGrady's role is instructive. He joined the cap table in 2023, appeared at the Los Angeles Auto Show in November 2023 driving a Revero GT in matte black, then showed up courtside at a Lakers game three weeks later with Karma's CEO seated two rows behind him. The company logged 87 inbound dealer inquiries in the following month, per filings reviewed by industry analysts. Edwards, Murray, and Young will likely follow the same circuit: home games, playoff runs, offseason charity events, all with Karma vehicles in the background and no FTC-mandated #ad disclosures because they are owners, not endorsers.
Watch for Karma's crossover debut timeline and whether the athletes appear in any formal capacity at the LA Auto Show in November 2025. Also watch Edwards' offseason: his Minnesota contract includes a $55M player option in 2029, and several team executives around the league believe he will test free agency. If Karma times a liquidity event—sale to a larger OEM or SPAC combination—to coincide with that window, Edwards walks into his next negotiation with a nine-figure exit on his résumé, which changes the leverage calculation for every athlete watching.
Karma has now placed equity with five professional athletes in 18 months, none of whom paid cash for their stakes. The company's 2025 production target is 3,500 units; it built 1,087 in 2023.
The takeaway
Karma Automotive converts endorsement budget into equity, landing Edwards, Murray, and Young without cash outlay while targeting younger, Blacker buyers ahead of a 2025 crossover launch.
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