According to ESPN’s Darren Rovell, Nike has signed Cleveland Cavaliers forward LeBron James to a lifetime deal in what one source familiar with the negotiations said is the largest single athlete guarantee in company history.
“We can confirm that we have agreed to a lifetime relationship with LeBron that provides significant value to our business, brand and shareholders,” Nike said, in a statement.
“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.”
ESPN said a company spokesperson would not say how much Nike paid. It is believed to be the first lifetime deal in the shoe and apparel company’s 44-year history.
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