Although Nike confirmed the deal in a statement, the company would not specify how much it was worth, though ESPN cited a source saying that it’s the largest financial agreement between Nike and an athlete in the company’s history.
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Nike has signed National Basketball Association star LeBron James to a lifetime deal, the company said Monday.
Separately, TheStreet Ratings team rates NIKE INC as a Buy with a ratings score of A+.
This news, of course, comes just days after it was announced that Nike would be giving James his own, more regal typeface.
LeBron signed with Nike before he was drafted by the Cavaliers back in 2003, and he’s been a staple of the company’s brand ever since, with 13 versions of his signature shoe to his name. “For LeBron, he’s thrilled to know he’s a Nike guy for life”. Nike acknowledged to its investors in October that the Air Jordan brand, which began in 1985, had surpassed $2.2 billion in annual sales. LeBron has been a Nike athlete for 12 years, the entirety of his pro career.
According to multiple reports, the Beaverton, Ore.-based athletic giant signed arguably the best current basketball player in the world to a lifetime deal.
James’ Nike business has been consistent even when things haven’t gone smoothly.
There has been plenty of speculation surrounding James potentially having his sneakers given the “retro” treatment like Jordan or a brand-like spinoff, something this deal would more than likely confirm.
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While still playing, James has broadened his business portfolio in recent years. Last week James’s multimedia venture, called Uninterrupted, secured a $15.8 million investment from Warner Bros.
