The Cleveland Cavaliers star and well-known comedic actor LeBron James and Nike have signed a lifetime contract, a contract that has been described as the biggest commitment ever with an athlete. This is not the first time we see athletes signed over lifetime contracts, Derrick Rose and David Beckam have similar contracts with Adidas and Allen Iverson has a contract with Reebok. But this is the first time Nike has signed a similar deal and it’s certainly their highest profile deal to date.
There is no doubt that James is one of the greatest basketball players in the history of sports. Joe Vardon of Cleveland.com has reported that the official terms between Nike and James have yet to be announced, but James’s annual earnings from this deal will be times than the $30 million Nike is currently paying Kevin Durant a year.
According to Kurt Badenhausen of Forbes, James has helped Nike to reach its bottom line. Sales of his signature shoe totalled $340 million between February 2014 and January 2015, making him the NBA’s top shoe salesman for Nike.
James has also set himself up for a great future beyond basketball with sports agencies, production companies, a vested interest in English football and juice bars.
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