Cleveland Cavaliers forward LeBron James has just signed a lifetime deal with Nike making it 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 abaft.”
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.
“LeBron and I have been in love and obsessed with Nike since we were kids,” Maverick Carter of LRMR, 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.”
Let us know what you guys think in the comments section. Was this an obvious good move for LeBron James to ink a lifetime deal with the Swoosh?
UPDATE: Following the breaking news yesterday of LeBron James signing a lifetime deal with Nike, we now have a video via Bleacher Report of King James reflecting on what he thinks of being down with the Swoosh for life.
BREAKING: Nike has signed LeBron James to a lifetime deal. Largest single athlete guarantee in company's 44-year history.
— Darren Rovell (@darrenrovell) December 7, 2015
Nike has never before announced a lifetime deal like the one they did with James today. Assume MJ has at least a de facto one.
— Darren Rovell (@darrenrovell) December 7, 2015
LeBron's landmark lifetime Nike deal was negotiated by Paul Wachter, who was on Beats By Dre side for $3B Apple deal.
— Darren Rovell (@darrenrovell) December 7, 2015
Source: ESPN
