YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Basketball star LeBron James signed a lifetime contract with Nike for an undisclosed amount, according to ESPN.
It is believed to be the first lifetime deal in the shoe and apparel company's 44-year history. James partnered with the company when he signed a $90 million contract before graduating high school.
Maverick Carter, James’ business partner, will manage the deal.
Adidas has developed lifetime deals with Chicago Bulls point guard Derrick Rose and soccer star David Beckham, and Reebok has a lifetime deal with former Philadelphia 76ers point guard Allen Iverson. It is assumed Michael Jordan has a de facto agreement with Nike for life. Air Jordan brand sales, which began in 1985, recently surpassed $2.2 billion in annual sales.
Nike has made 13 versions of James' shoe, and annual sales in 2015 for his line are estimated to top $400 million, according to ESPN.
Read more from ESPN.
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