( 4UMF NEWS ) LeBron Lands Lifetime Deal With Nike:
Cleveland Cavaliers star LeBron James has reached a lifetime deal with Nike, two people familiar with negotiations told USA TODAY Sports.
They requested anonymity because they were not authorized to speak publicly until Nike officially announced the agreement.
James has been with Nike since he entered the NBA, starting with a seven-year, $93 million deal. In 2010, he reached another deal with Nike that was for more money and longer period.
Nike sold $340 million worth of James’ signature shoes in a 12-month period from February 2014 through January 2015, Forbes magazine reported. Forbes estimated James earns approximately $44 million a year from various endorsements in addition to the $20-million plus he makes from the Cavaliers.
It is the first time Nike has reached a lifetime deal with an athlete in its 44-year history.