Nike has signed a “lifetime” deal with basketball star LeBron James in what is being described as the largest single-athlete guarantee in the brand’s history.
The deal with the 30 year-old Cleveland Cavaliers forward marks the first time that the sports company has ever confirmed a “lifetime” deal with an athlete.
It illustrates Nike’s desire to have James as a brand ambassador well beyond his playing days and suggests that the Baltimore-based company has a long-term strategy to sell footwear and other branded merchandise using his name, similar to its highly lucrative $2.2bn Michael Jordan line.
A statement released by Nike said: “We Read full story ›
Source: The Drum
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