With the stake that Michael Jordan has in Nike, fans didn’t think there would come a time when another basketball star would surpass his greatness. Off the court, Lebron James has been able to create profitable business avenues for himself, with his foot in the sneaker industry as one of them. At just 30-years-old, he’s now signed an unprecedented “lifetime” deal with Nike. This is the first time Nike has EVER given an athlete this type of deal.

Although this is Nike’s first, Kevin Durant signed a huge 10-year, $300 million deal with Nike in 2014. But, that’s not a “lifetime” deal. However, there are other major sneaker brands who have committed to such. Allen Iverson has a lifespan deal with Reebok, as well as, Derrick Rose and David Beckham with Adidas. However, we doubt their lifespan deals will financially touch what Lebron James just signed on to. Remember, in 2003, Lebron James signed a seven-year, $90 million contract with Nike, then re-signed with them to go on to earn an estimated $30 million annually.

According to Forbes, Lebron James’ shoes has sold over $340 million per year since his rookie season. He also recently received $15.8 million in investment capital from Time Warner Cable for his media firm.

Lebron James is making major moves and we’re sure this will not be the last we’ll see of it.


Photo credit: CavsNation.com