Everyone wants a piece of LeBron James, and Nike is no exception. The shoe and apparel giant have signed an unprecedented lifetime contract with the NBA star in what is reported to be the brand’s largest financial arrangement with an athlete, ever.
How large might you ask? Well, a source has reported that the deal is ‘multiple times’ higher than Nike‘s $300,000,000, 10-year contract with fellow NBA star Kevin Durant.
“We can confirm that we have agreed to a lifetime relationship with LeBron that provides significant values to our business, brand and shareholders,” Nike said in a statement.
James has been a Nike athlete for his entire 13-year NBA career and this year, annual sales of his line are estimated to top a whopping $400 million. As for all of LeBron’s endorsements together, the 31-year-old is laughing straight to the bank with an estimated $40 million a year.
It doesn’t end there, though. James’ Beats by Dre equity stake earned him around $30 million and last week Time Warner announced a $15.8 million investment in his multimedia content platform Uninterrupted.
Congratulations, LeBron and thanks for a million new reasons we wish we were you.