Nike signs James to an lifetime endorsement deal. The terms are not revealed, but a source says it easily surpasses Kevin Durant’s 10-year, $300 million deal. Nike has made 13 versions of James’ signature shoe, and annual sales in 2015 for his line are estimated to top $400 million. James:
I’m very humble, man. 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…It meant a lot to me even when I signed my first deal just to be with Nike, and it means even more that they’ve given me this.
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.