LeBron James is KILLING things not only on the court anymore but off the court on the business end. Nike has signed the Cleveland Cavaliers forward to a lifetime deal in what one source familiar with the negotiations said is the largest single athlete guarantee in company history.
via ESPN:
“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.”
A company spokesperson would not say how much Nike paid. It is believed to be the first lifetime deal in the shoe and apparel company’s 44-year history.
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 LeBron’s shoe than for any other athlete outside of Jordan, who is on his 30th Air Jordan. Nike has made 13 versions of James’ signature shoe, and annual sales in 2015 for his line are estimated to top $400 million. I will be sure to post an update when I receive official numbers.
