LeBron James is setting the bar with his latest venture — a lifetime deal with Nike that’s the first of its kind in the apparel juggernaut’s 44-year history.
The company made the announcement on Monday, ESPN reports, although full details of the deal haven’t been released. Nike and James first came together in 2003, before the star was a member of the NBA. At 18 years old, he was given a seven-year Nike endorsement contract worth just over $90 million. The risk paid off; LeBron has gone on to become one of the most successful players and businessmen in the field.
The deal surpasses previous partnerships between Nike and other players like Michael Jordan and Oklahoma City’s Kevin Durant. And it’s a first for Nike, who’s never completed a lifetime deal with an athlete. Both parties released statements.
ESPN reports:
“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 meant a lot to me even when I signed my first deal just to be with Nike, and it means even more that they’ve given me this,” James said. “It’s like I said, very humbling and grateful, and I’m going to continue to do my job and represent the brand the best way I can like I know how. Hopefully, people see that.”
The player will reportedly earn over $30 million a year from Nike. The deal will more than likely fuel James’ philanthropic efforts long after he steps off the court. This year, he announced a scholarship program called “I PROMISE,” which will assist exceptional high school graduates as they move on to college. Parents of the program will also receive assistance in completing their GEDs, as well as job training programs.
article by Desire Thompson via newsone.com
Dwyane Wade created a memorial for Laquan McDonald the one place he knew everyone would look. The Miami Heat player etched the slain Chicago teen’s name into his game day sneakers, along with the hashtags “#Chicago” and “#Justice.”
It was a simple yet powerful way to honor the 17-year-old, who was shot 16 times by Chicago police officer Jason Van Dyke in October 2014. Van Dyke was charged with first degree murder last week after dash-cam footage revealed the grisly details behind McDonald’s death.
While many have taken to the streets to protest, Wade — a Chicago native — recognized that his feet gain special attention during games and would make a fitting place for a tribute.
After graduating from Vanderbilt, Wallace went on to earn a law degree at Columbia University. He then worked for the U.S. Justice Department and the Environmental Protection Agency. Before joining the faculty at American University in 1993, Professor Wallace taught at Howard University and the University of Baltimore.
