LeBron James gets lifetime Nike deal

This year, the 30-year-old Cleveland Cavaliers forward let his endorsement deal with McDonald’s lapse, instead throwing his weight behind the Blaze Pizza chain, in which he is an investor.

Given the strong business it has received from the LeBron range of shoes over the past 12 years, Nike believes the lifetime deal will significantly benefit its business and brands as well as provide incremental value to shareholders.

Terms of the deal have yet to be disclosed, but ESPN reports that it is likely the first lifetime deal Nike has ever agreed to.

“I’m [a] very humble, man”, James said on Monday after practice with the Cavaliers, CBC quotes.

James has a shoe and clothing line with Nike, and his new agreement will expand his brand.

Full catalogue: A tiny selection of the LeBron James-branded gear available on the Nike website.

LeBron James (picture) will be in the Nike stable for the rest of his basketball 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 added.

James initially signed with the brand in a seven-year $90 million deal on the eve of the 2003 National Basketball Association lottery. He also has deals with McDonalds, Coca-Cola and Samsung among other companies.

Nike have released 13 shoes under the James signature in recent years, with 2015 sales of his sneakers and other branded gear believed to top $400m. The contract was worth $300 million for 10 years.

Congratulations, LeBron and thanks for a million new reasons we wish we were you.

James has won four league MVP titles and is widely expected to play well into his 30s.

For Nike, this may be its first deal to strike a contract for the entirety of an athlete’s life.

“If it makes sense for us to have a “Team LeBron”, or whatever the name will be, we’ll take a look at it and we’ll go from there”. Nike’s athletic wear rival Adidas has signed Chicago Bulls guard Derrick Rose and soccer legend David Beckham, while Reebok has retained former Philadelphia 76ers star Allen Iverson.