Lebron James just took the next step in cementing his sneaker legacy beyond his playing career, as the Cavaliers Forward just signed a lifetime deal with Nike, according to ESPN’s Darren Rovell:
This is the first lifetime contract given out by Nike, although you can assume Michael Jordan has some version of a lifetime deal. This is the statement Nike gave as a response to the news:
“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.”
Lebron James first signed with the Swoosh in 2003, netting a seven-year, $90 million contract with the brand. This was (and still stands as) the largest contract given out to a rookie by Nike. James later re-upped with Nike in 2010, reportedly making upwards of $20 million per year on a nine-year deal, according to Forbes.
While financial terms have not been disclosed, Rovell notes that this deal is larger than the ten-year $300 million contract that Kevin Durant signed last summer.
Other notable lifetime sneaker contracts includes Derrick Rose’s deal with adidas, as well as Allen Iverson’s lifetime deal with Reebok.
Let us know what you think will come out of this lifetime contract in the comments below. Will LeBron get his own brand extension a la Jordan? What LeBron retros will you want to see down the road?