Job for life: Nike to sponsor LeBron James until the day he dies
Sports company agrees ‘lifetime relationship’ with basketball’s star player
LeBron James has a contract with Nike that will last long after he hangs up his sneakers.
The NBA megastar has signed a lifetime endorsement deal with the athletic apparel giant, a deal which extends a partnership James began with Nike before he graduated from high school.
“I'm very humble, man,” James said Monday after practice with the Cleveland Cavaliers. “It's been an unbelievable time for myself and my family, and I'm just grateful that Nike and 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 terms of James' deal were not disclosed. James signed a seven-year, US$90 million contract with Nike shortly before he entered the draft in 2003, skipping college to be a pro.
James has had his own line of Nike shoes for years, and his new agreement could expand into his own brand.
“We can confirm that we have agreed to a lifetime relationship with LeBron that provides significant value to our business, brand and shareholders,” Nike said. “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.”