Lebron James Signs Liftetime Deal With Nike
Lebron James is living up to his jersey number, signing the first ever lifetime endorsement deal granted from Nike. Even though the specifics of the deal have not been released to the public, rumor has it that Lebron just came up on some SERIOUS cash, and will likely be dealing with Nike long after his retirement. Via ESPN:
Nike has signed Cleveland Cavaliers forward LeBron James to a lifetime deal in what one source familiar with the negotiations said is the largest single-athlete guarantee in company history.
“We can confirm that we have agreed to a lifetime relationship with LeBron that provides significant value to our business, brand and shareholders,” Nike said in a statement. “We have already built a strong LeBron business over the past 12 years, and we see the potential for this to continue to grow throughout his playing career and beyond.”
“I’m very humble, man,” James said to reporters after Monday’s practice. “It’s been an unbelievable time for myself and my family, and I’m just grateful that Nike and [Nike founder] Phil Knight and everyone over there just believed in a skinny-old, skinny 18-year-old kid from Akron, Ohio, and I’m happy to be a part of such a great company.”
A source close to the deal told ESPN that it easily surpasses the 10-year, $300 million deal Oklahoma City Thunder forward Kevin Durant signed with the world’s largest shoe and apparel brand last summer.
Nike has made more versions of James’ shoe than for any other athlete outside of Jordan, who is on his 30th Air Jordan. Both James and Nike’s business has grown exponentially since 2003, when Nike signed James on the eve of the NBA lottery to a seven-year, $90 million deal, its largest athlete deal ever at the time.
Nice! Make some space in your closet for more Lebrons…