LeBron James Signs Lifetime Contract With Nike In A Deal That Could Rival Michael Jordan’s 2 Billion Air Jordan Empire

| December 8, 2015 | 0 Comments

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Michael Jordan has heard the footsteps of LeBron James even before he was a pro player but now he will be hearing the footsteps of his possible heir to his throne literally at Nike’s headquarters.

It was his destiny long before he became an NBA all-star. In fact LeBron James signed an endorsement deal worth $90 million even before he made his first NBA basket in his 2003 rookie year with shoe giant Nike. And ever since he has chased down Michael Jordan’s NBA records and milestone with reckless abandonment.

Now James has just signed the first-ever lifetime contract with Nike that experts expect could rival that of basketball legend Michael Jordan’s Air Jordan empire and make James a billionaire.

Dailmail reports:

LeBron James has a contract with Nike that will last long after he hangs up his signature sneakers.

The NBA megastar has signed a lifetime endorsement deal with the athletic apparel giant, a deal which extends a partnership James began with Nike before he graduated from high school.

James, 30, signed a seven-year, $90million contract with Nike shortly before he entered the draft in 2003, skipping college to be a pro, but the financial terms of his new deal were not disclosed.

A source familiar with the terms told ESPN the deal easily eclipsed the $300million, ten-year deal Nike signed with Oklahoma City Thunder forward Kevin Durant.

Nike has a longstanding partnership with Michael Jordan but has never announced a lifetime deal before but it’s believed to be the first lifetime deal in the company’s 44-year history.

‘I’m very humble, man,’ James said Monday after practice with the Cleveland Cavaliers.

‘It’s been an unbelievable time for myself and my family, and I’m just grateful that Nike and Phil Knight, and everyone over there just believed in a skinny 18-year-old kid from Akron, Ohio, and I’m happy to be a part of such a great company.’

Sales of Nike’s Air Jordan brand have exceeded $2.2 billion in sales since 1985.

James has had his own line of Nike shoes for years and the company has made 13 versions of LeBron’s signature shoe, with annual sales expected to pass $400million for 2015.

James also has a clothing line with Nike and his new agreement could expand into his own brand.

‘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 emailed to the AP.

‘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.’

James turns 31 on Dec. 30, but the four-time league MVP shows little signs of slowing down and could play well into this 30s.

Read more: http://www.dailymail.co.uk/news/article-3350120/LeBron-James-signs-lifetime-deal-Nike.html

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Category: Sports

About the Author ()

Darnell Moore has extensively studied music and urban culture both academically and professionally for over 20 years. His writings and posts have appeared in many major urban publications. Moore is the founder and creator of Memoirs of an Urban Gentleman. Contact him , http://darnellmmusic@gmail.com/ or https://twitter.com/@darnellmmusic/

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