LeBron James Signs Lifetime Deal With Nike – Full Details Here!

Thirteen years ago, NBA star LeBron James signed his first 7-year, $90-million contract with Nike in 2003. That was before he even stepped on an NBA court, and now, the two-time champion has reached a record-breaking lifetime endorsement deal — the biggest in Nike’s history.

A source close to the deal revealed to ESPN that James’ agreement with the world’s largest shoe and apparel brand easily surpasses the 10-year, $300 million deal Oklahoma City Thunder forward Kevin Durant signed last summer.

A spokesperson for Nike would not disclose how much the brand paid Cleveland Cavaliers forward James, but it is believed to be the first lifetime deal in the company’s 44-year history.

“We can confirm that we have agreed to a lifetime relationship with LeBron that provides significant value to our business, brand and shareholders,” said Nike in a statement. “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.”

After Monday’s practice, James told reporters he was very humbled by it all. “It’s been an unbelievable time for myself and my family,” he said, “and I’m just grateful that Nike and [Nike founder] Phil Knight and everyone over there just believed in a skinny, 18-year-old kid from Akron, Ohio, and I’m happy to be a part of such a great company.”

Maverick Carter, James’ business parter, discussed the deal as well, saying, “LeBron and I have been in love and obsessed with Nike since we were kids. Having built a totally innovative global business with them has truly been a dream come true. We are so excited to be taking the business to an entirely new level. For LeBron, he’s thrilled to know he’s a Nike guy for life.”

The deal was negotiated by Main Street Advisors’ Paul Watcher; Carter, on the other hand, will be managing it.

4 Life! Thank you for taking a chance on a skinny 17 year old kid from Akron Ohio #Nike #StriveForGreatness

A photo posted by LeBron James (@kingjames) on

Nike has made more versions of James’ shoe than for any other athlete outside of Michael Jordan, whose Air Jordan brand began in 1985 and had surpassed $2.2 billion in annual sales. The brand has made thirteen versions of Jame’s signature shoe, and annual sales in 2015 for his line are now estimated to top $400 million.

“We’ve done a great job of building my brand to this point here today,” said James. “We want to just continue it. If it makes sense for us to have a ‘Team LeBron’ or whatever the name will be, we’ll take a look at it and we’ll go from there.”

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Regina is a Fine Arts graduate who expresses herself through various mediums. She finds amusement in pop culture, enjoys video games, and watches way too many YouTube videos on a daily basis.