By Lukmon Oloyede.
National Basketball Association (NBA) star LeBron James has signed a lifetime endorsement deal with global spotwear giant Nike.
Nike has not disclosed the fee paid to James but the deal is reportedly the largest single-athlete agreement in Nike’s history, surpassing the US$300 million, 10-year deal fellow NBA star Kevin Durant signed in 2014.
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“I’m very humble, man,” the Cleveland Cavaliers forward told reporters after Monday’s practice. “It’s been an unbelievable time for myself and my family, and I’m just grateful that Nike and [Nike founder] Phil Knight and everyone over there just believed in a skinny-old, skinny 18-year-old kid from Akron, Ohio, and I’m happy to be a part of such a great company.”
Nike first signed James before he graduated high school, and now the company is investing in him for the long run. But a lifetime deal is an anointment of retail royalty-it signals a belief that a player’s brand will be profitable for years to come, even post-career.
