LeBron James signs lifetime deal with Nike

Dec 4, 2015; New Orleans, LA, USA; Cleveland Cavaliers forward LeBron James (23) reacts against the New Orleans Pelicans during the second half of a game at the Smoothie King Center.The Pelicans defeated the Cavaliers 114-108 in overtime. Mandatory Credit: Derick E. Hingle-USA TODAY Sports /

Dec 4, 2015; New Orleans, LA, USA; Cleveland Cavaliers forward LeBron James (23) against the New Orleans Pelicans during overtime of a game at the Smoothie King Center.The Pelicans defeated the Cavaliers 114-108 in overtime. Mandatory Credit: Derick E. Hingle-USA TODAY Sports /

Nike and LeBron James go waaaaay back. Before LeBron had even stepped foot on an NBA floor, Nike signed him to a seven-year deal worth $90 million. In all likelihood, that one turned into a bargain for the company well before it expired. The two parties have remained in a relationship since, and on Monday they announced that they’ll be together forever. Here’s the official statement from Nike (via ESPN):

"“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.”"

It’s the first lifetime deal given to anyone in the 44-year history of Nike. Forbes reports that the shoe company sold about $340 million worth of LeBron’s shoes in the retail fiscal year that concluded in January. That seems like a lot.

Nike signed Kevin Durant to a 10-year, $300 million deal back in 2014, but James’ deal is expected to be worth significantly more. ESPN’s Darren Rovell estimates LeBron’s deal could eventually be worth something in the neighborhood of $500 million.

It’s good to be King.

Home/NBA