LeBron James, Cleveland Cavaliers forward, made history by signing a lifetime deal with Nike, making this the largest single-athlete guarantee in company history. This is also believed to be the first lifetime deal in the 44-year history of Nike, a shoe and apparel company.
Details on how much Nike paid out is unclear, but a source close to the deal says that it surpasses the 10-year, $300 million dollar deal sign by Kevin Durant, Oklahoma City Thunder forward, with the largest shoe and apparel brand last summer.
Nike has made more versions of James’ shoe than any other athlete other than Michael Jordan. Nike has made 13 versions of James’ signature shoe.
Other lifetime deals include Adidas deal with Chicago Bulls point guard Derrick Rose and soccer player David Beckham, and Reebok has a lifetime deal with former Philadelphia 76ers point guard Allen Iverson.