Lebron James signs landmark lifetime deal with Nike
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Lebron James signs landmark lifetime deal with Nike
Nike and Lebron James have just agreed on a lifetime endorsement, an unprecedented move for Nike in spite of its many athlete partnerships. The deal, according to ESPN sources, will easily surpass Kevin Durant’s $300 million, 10-year deal signed last year.
While other sports giants Adidas and Reebok have signed lifetime deals with the likes of David Beckham, Derrick Rose, and Allen Iverson, this marks the first time Nike has slapped that label on one of their stars.
With this deal already breaking the mold for Nike, here’s a look back on some other massive contracts for a picture of the landscape in which this deal takes place:
Kevin Durant
Last summer, Under Armour had entered the fray with a massive offer to the Oklahoma City star, but Nike had the opportunity to counter anything Under Armour put down. In the end, terms were reached for a $300 million/10-year deal.
David Beckham
David Beckham was one of the first athletes to sign a lifetime endorsement deal, which cost Nike rival Adidas around $160 million.
Derrick Rose
Derrick Rose signed on with Adidas for life, which for Adidas meant 14 years, for $260 million.
Lebron James
While his new contract blazes new paths for Nike, “the King” is no stranger to big money from them. His first deal with the shoe giant in 2003 was a 7-year $90 million contract.
There is one name that probably comes closest to what you might call a lifetime deal: Michael Jordan. Jordan’s relationship with Nike is unlike any other athlete, even if it doesn’t sport the “lifetime” tag in a formal way. Many years removed from his basketball career, Jordan’s annual earnings still average around $100 million, largely because of his Nike royalties. The Jordan brand commands 58 percent of the US basketball shoe market.
While Jordan remains the shoe king, James’ new deal is setting a precedent all its own.
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