Today, ESPN reported LeBron James has agreed to a lifetime endorsement deal with Nike. The deal surpasses Kevin Durant’s famous $300 million, 10-year deal.
In 2003, James signed a 7-year, $90 million deal with Nike, and later signed a new deal in 2010. The latest deal is huge news, as the contract is the biggest guaranteed deal and first lifetime deal in the shoe and apparel company’s 44-year history.
— SoleCollector.com (@SoleCollector) December 7, 2015
“We can confirm that we have agreed to a lifetime relationship with LeBron that provides significant value to our business, brand, and shareholders. 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,” Nike issued in a statement.
Nike has locked down LeBron for life. https://t.co/PaQdNbLKbb
— NBA on ESPN (@ESPNNBA) December 7, 2015
What does this mean for James? Well, he ranked No. 6 son Forbes’ highest-paid athletes list this year with an income of $64.8 million, and this colossal lifetime deal will ensure he remains one of the richest athletes in the world for decades to come.
Congratulations, LeBron James.