The basketball star and the sports brand agree to a lucrative lifetime deal.
LeBron James and Nike just made history.
The Cleveland Cavalier and the sport brand signed a partnership deal that ESPN reports is the largest single-athlete guarantee in company history.
A statement from Nike announced the first of its kind lifetime contract on Monday.
“We can confirm that we have agreed to a lifetime relationship with LeBron that provides significant value to our business, brand and shareholders.”
James initially signed with the brand in a seven-year $90 million deal on the eve of the 2003 NBA lottery.
“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,” the statement continued.
The 2x NBA Champion and 4x league MVP told reporters that the partnership is a dream come true.
“I’m very humble, man,” he said. “It’s been an unbelievable time for myself and my family, and I’m just grateful that Nike and [Nike founder] 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.”
Financial details of the deal have not been disclosed but we know Nike coins go a very long way. Congrats LeBron!
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