Nike bet big with LeBron James.
Big, as in a billion dollars on a lifetime deal for the Cleveland Cavaliers superstar. Maverick Carter, James’ business partner, has helped the King grow into a global superstar over years. So much so, in fact, nobody really came close to guessing the proper amount Nike paid to have James as a lifelong wearer and representative of the Swish.
Carter might have let it slip in an interview with GQ:
How much was the deal for?
I can’t say.Come on, Mav! Can you ballpark it?
What are people saying?Kanye said a billion. So a billion.
[Maverick smiles and points one finger skyward.]
He went on to explain how the shoe company feels about the costly transaction:
Yeah. It’s a fantastic deal. Nike feels great about the deal. That’s the most important thing. As great as I feel, as great as LeBron feels—Nike feels fantastic about it. It’s the largest deal in the history of the company. Their hope is he makes even more. And our hope is that, too, obviously.
As one could expect, Twitter responded in kind:
OFFICIAL: LeBron James’ lifetime @Nike deal is worth over $1 billion. (via @GQstyle) pic.twitter.com/KoRKEeIVEC
— Complex Sneakers (@ComplexSneakers) May 17, 2016
A costly move, but a genius one. James won’t have any problems making that cash back for Nike. Off the court, he’s continuing to expand his reach, the most recent venture a starring role in Space Jam 2. On it, he’s in contention for yet another title while trying to bring his first to Cleveland.
A billion sounds like a lot, but it’s just another day for the LeBron James Brand, which hasn’t shown any sign of stopping.
