Sportswear giant, Nike have made a one of one commitment to marquee athlete, LeBron James by signing him to a lifetime contract in what marks the single largest athlete guarantee in the history of the company’s 44 year existence. This is the next step in a relationship that was first solidified in 2003.
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
Nike’s discussions with LeBron included the idea of breaking out brand separately from Nike basketball umbrella. Ultimately decided against.
— Darren Rovell (@darrenrovell) December 7, 2015
LeBron on Nike: “It meant a lot to me even when I signed my first deal… and it means even more that they’ve given me this.” (via @mcten)
— Darren Rovell (@darrenrovell) December 7, 2015
LeBron on why lifetime deal w/Nike: “I don’t want to be nowhere else. I’m Nike & swoosh for the rest of my life.” (Via @mcten)
— Darren Rovell (@darrenrovell) December 7, 2015