LeBron James signed a lifetime deal with Nike earlier this week, and it’s safe to say the terms of the new deal will continue to assure that the two-time NBA champion and his family, grandchildren, great-grandchildren, great-great-grandchildren and — you get the point — will never go hungry.
Sam Amick of USA Today Sports reports that LeBron’s new deal is worth significantly more than $500 million in total and more than $30 million per year at the current rate of merchandise and apparel sales.
Nike has confirmed the lifetime deal, and it is believed that it is the first lifetime deal the company has ever hammered out in its 44 years of existence.
Given LeBron’s global popularity, no figure would have really surprised us. With Nike having recently lost another NBA star to Adidas, the company had even more money to spend on its biggest asset.
Michael Jordan recently became a billionaire, and his partnership with Nike has helped him get there. Forbes reported earlier this year that Jordan makes around $100 million a year in endorsements, most of which comes from Nike. LeBron is clearly headed down a similar path.
