Meanwhile, Nike also confirms that the lifetime partnership has just been successfully signed by the brand and James.
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James, who now plays for the Cleveland Cavaliers, has already had Nike’s favor for the past 12 years. Of course, aside from the obvious financial gains, if you really want to know just how big this deal truly is, let’s just say it’s believed to be the first time Nike has ever handed out a lifetime contract. According to the website’s source, the deal can be considered as the largest single-athlete guarantee in the history of the sportswear company.
During a quick chat with reporters after practice on Monday (Dec. 7), James said he’s humble by the news. “Thank you for taking a chance on a skinny 17 year old kid from Akron Ohio [sic]”, along with a hashtag for “Nike” and his signature catchphrase, “StriveForGreatness”.
“He’s a Nike guy for life”, James’ business partner Maverick Carter of LRMR told the network.
“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”.
Nike Inc.NKE has taken another step toward enhancing its popularity by signing a lifetime endorsement deal with basketball star LeBron James.
James’ relationship with Nike began in 2003, when the parties agreed to a seven-year, $90m contract ahead of that year’s National Basketball Association draft lottery.
“We’ve done a great job of building my brand to this point”. Last year, the company’s LeBron James brand generated around $340 million, nearly double what Kevin Durant raked in for Nike.
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By now, sports endorsement deals in the millions of dollars are nothing new. ESPN’s Darren Rovell estimates LeBron’s deal could eventually be worth something in the neighborhood of $500 million. “It’s a partnership where we always come together and figure out the best way possible for both brands to be successful”, he continued.
