A released Nike lifetime deal yesterday has confirmed the unique greatness of NBA star, Lebron James.
If there is anyone who ever questioned or doubted the worth of Cleveland Cavaliers forward, Lebron James, an unprecedented Nike lifetime deal is definitely putting that to rest.
In its largest single-athlete guarantee in the company’s 44-year history, Nike has signed an endorsement deal that testifies to their belief of Lebron James’ legacy.
The world’s largest sporting goods company stated,
“We can confirm that we have agreed to a lifetime relationship with LeBron that provides significant value to our business, brand and shareholders…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.”
After Monday’s practice, a 30-year-old James told reporters,
“I’m very humble, man…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.”
Nike signed James after he went pro out of high school in 2003 on the eve of the NBA lottery to a seven-year, $90 million deal, its largest athlete deal ever at the time. And it seems they have done it again.
Both James and Nike’s business has certainly grown since then with sales over $340 million in 2015 alone.
“LeBron and I have been in love and obsessed with Nike since we were kids,” Maverick Carter, James’ business partner, said Monday. “Having built a totally innovative global business with them has truly been a dream come true. We are so excited to be taking the business to an entirely new level. For LeBron, he’s thrilled to know he’s a Nike guy for life.”
James also added,
“It meant a lot to me even when I signed my first deal just to be with Nike, and it means even more that they’ve given me this…It’s like I said, very humbling and grateful, and I’m going to continue to do my job and represent the brand the best way I can, like I know how.”
Nike has made 13 versions of James’ signature shoe, which is more than any other athlete outside of Jordan, who is on his 30th Air Jordan.
This Nike lifetime deal for Lebron James could eventually become something similar to that of 52-year-old legend, Michael Jordan, who is now the CEO of the billion-dollar Jordan Brand.
James has certainly progressed significantly as a businessman off the court.
His stake in Beats earned him at least $30 million when the company sold to Apple, and he has territorial rights in Chicago and Miami to Blaze, a customizable pizza chain.
And just last week, he announced a $15.8 million investment from Time Warner and Turner in his multimedia athlete content platform called Uninterrupted.
Not bad of a legacy for a former NBA rookie of the year who has now won two NBA titles, two Olympic gold medals, and is a four-time NBA MVP.
Long Live King (Lebron) James!”