LeBron James has signed an unprecedented lifetime deal with Nike on Monday. James’ deal is believed to be largest single-athlete contract guarantee in the company’s 44-year history.
The previous highest contract belonged to another NBA star, Kevin Durant, which was signed last season. The contract was worth $300 million for 10 years. James’ deal is the first time Nike signed an athlete for a lifetime contract.
“We can confirm that we have agreed to a lifetime relationship with LeBron that provides significant value to our business, brand and shareholders,” Nike announced in a statement on Monday. “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.”
“LeBron and I have been in love and obsessed with Nike since we were kids,” James’ business partner Maverick Carter said. “Having built a totally innovative global business with them has truly been a dream come true. We are so excited to be taking the business to an entirely new level. For LeBron, he’s thrilled to know he’s a Nike guy for life.”
LeBron James said the deal is unbelievable for him. “I’m very humble, man,” the Cavs forward told reporters after Monday’s practice. “It’s been an unbelievable time for myself and my family.”
The company spokesperson didn’t disclose the amount of the deal.
BREAKING: Nike has signed LeBron James to a lifetime deal. Largest single athlete guarantee in company's 44-year history.
— Darren Rovell (@darrenrovell) December 7, 2015