LeBron James signs lifetime deal with Nike

I didn’t think anyone could have longer contracts than hockey ones, but on Monday it was announced that LeBron James is set to sign a lifetime deal with Nike.

LeBron James will be in the Nike stable for the rest of his basketball career – and beyond. And while the specific numbers have not been confirmed, a source told Rovell the deal easily eclipses Kevin Durant’s 10-year, $300 million pact with Nike.

In a statement, Nike said its relationship with the Cleveland Cavaliers star “provides significant value to our business, brand and shareholders”. During his time on the court, James has also signed deals with Coca-Cola, McDonald’s, Samsung and Dunkin Brands.

According to Forbes magazine, Nike sold $340 million worth of James’ signature shoes between February 2014 and January 2015. “For LeBron, he’s thrilled to know he’s a Nike guy for life”.

Nike has made more versions of LeBron’s shoe than for any other athlete outside of Jordan, who is on his 30th Air Jordan. But a lifetime deal is an anointment of retail royalty-it signals a belief that a player’s brand will be profitable for years to come, even post-career.

While still playing, James has broadened his business portfolio in recent years. Therefore, the following news shouldn’t be too surprising – LeBron James now has his very own typeface, which is named after him.

According to an ESPN report, Paul Wachter of Main Street Advisers, who represented Beats By Dre in its $3 billion sale to Apple in May, negotiated the deal between James and Nike.