Lebron James inked a lifetime deal with Nike worth significantly $500M
The Cleveland Cavaliers franchise player, Lebron James has reportedly agreed to sign a multi-billion lifetime deal with Nike.
According to Nike representatives, both the giant shoes and Apparel Company have come to agree with a lifetime relationship with the NBA superstar. For 12 significant years, Nike and Lebron James have built a strong bond of business with so much potential and hope to continuously grow even if the basketball star will end his career.
Although there were other companies who have signed lifetime deals such as Adidas for Chicago Bulls point guard Derrick Rose and soccer legend David Beckham. Reebok has also made a lifetime deal with former NBA point guard Allen Iverson of the Philadelphia 76ers. As for Nike, this is the first time that the company ever announced such deal.
Throughout the Nike endorsement of Lebron, the deal had made 13 versions of Lebron’s signature shoes leading to an annual sales estimate of $400 million.
Nike has made 13 versions of James' signature shoe, and annual sales in 2015 for his line are estimated to top $400 million.
Indeed, Lebron James has evolved to be not just a baskbetball superstar but also a businessman with various product endorsements aside from Nike.