Earlier this month, LeBron James made headlines when it was announced he had signed a lifetime contract with Nike. While no official details regarding the deal were made public, it's been reported that the contract could be worth as much as $30 million annually.
In a story from Forbes, footwear business guru Matt Powell discusses James' contract in an article titled, "Five Things You Didn't Know About Nike's 'Lifetime' Contract With LeBron James." In his first point, "Don't Believe the Money," Powell states, "Likely this deal is similar to Nike’s contract with Michael Jordan, which pays a percentage of dollars sold to the athlete. There may be some upfront payment as well. Likely the estimate is based on sales continuing at a high level after retirement."
Though the deal may be similar to Jordan's, Powell doesn't believe James' selling power will equate to Jordan's based on the performance of James' signature line at retail. Powell goes on to say that, "There Will Never Be Another Jordan," and discusses why Nike made the move along with the impact it will have on future athletes' endorsement deals.
For the full read, make sure to venture over to Forbes.
LeBron James' Lifetime Nike Deal Might Be Very Similar to Michael Jordan's
A look at how LeBron James' lifetime Nike contract compares to Michael Jordan's.
Image via Complex Original
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