In early December, LeBron James signed a lifetime deal with Nike. Concreting his place in the Swoosh’s plans, James will forever be a Nike athlete. This is also the first time Nike has ever announced a lifetime deal.
Many have estimated the deal to be worth between $500 million to $1 billion, but it may never reach those numbers. Nike and Bron’s deal will probably be based on a percentage of total sales. Only Michael Jordan can surpass those estimations. Everybody wants to be like Mike but their influence is on a different tier. Jordan transcended the game and actually increased sales after his playing days. Others will follow this lead and want to be set for their lifetime too.
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Nike let Stephen Curry walk and he transcended another brand. In the summer of 2014, Under Armour also offered truckloads of money to Kevin Durant who almost left Nike but ultimately chose to stay. Nike is unwilling to have the thought of LBJ in another brand.
Recap of the 5 Things in Headlines:
1) LeBron Gets Paid a Percentage of Dollars Sold
2) There Will Never Be Another Michael Jordan
3) This Raises the Bar for All Athletes
4) Nike is Unwilling to Risk Losing James
5) LeBron is Now the Permanent Face of Nike
For the full write up, click here for the article from Forbes.
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