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December 7, 2015While Michael Jordan’s namesake is strapped to the back of the most iconic sneaker line in history, it is Cleveland Cavaliers forward LeBron James who has signed the largest guaranteed deal in Nike’s history. According to ESPN’s Darren Rovell, The Swoosh has signed James to a lifetime deal that will keep him involved with the company well beyond his playing days in the NBA.
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
James famously signed his first contract with Nike before he was drafted by the Cavs back in 2003. In an era where athletes jump from brand to brand as new deals come about—James Harden is one of the most recent, switching from Nike to adidas—locking James up for the long haul makes sense. Scandal free since entering the league, James has been a pillar of the company’s basketball line, recently launching his thirteenth signature sneaker. His 2014 line, the LeBron 12, was the biggest revenue generator for the entire basketball line.
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. James’ personal logo is already featured on countless items and is rolled out with each sneaker release, providing matching apparel to the footwear.
This news, of course, comes just days after it was announced that Nike would be giving James his own, more regal typeface. Financial terms of the deal have not been disclosed, but it’s safe to assume that the four-time MVP is being handsomely compensated after taking a slight pay cut following the end of his first deal. Early reports say that it easily surpasses the 10-year, $300 million deal that was recently signed by Oklahoma City’s Kevin Durant.
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At least he’s finally getting paid
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