Lebron James’ contract with Nike 2003
Lebron James signed a seven-year, $90 million contract with Nike on May 22, 2003. The deal was actually worth less than the $115 million that Reebok had offered him. Of course, James ultimately settled on Nike due to its longevity in the market.
The deal with Nike, even for less than what Reebok had offered him, turned out to be the highest-paying endorsement deal in NBA history for a rookie. Most impressive to James is that he signed the deal before playing an NBA game.
Having the richest contract for a rookie, James also had the highest annual salary, worth just over $12 million. However, that record was recently broken after Zion Williamson signed a five-year, $75 million deal with Jordan Brand, which will pay him $15 million annually.
For James, taking less money with Nike turned out to be the right decision. James has since signed a lifetime deal with the Swoosh, reportedly worth up to $1 billion. He has proven that he is worth every penny as his signature sneaker is one of the most popular in the world today.
LeBron James dealt
The richest shoe contracts in the NBA: LeBron, Kobe, and Durant remain no match for Michael Jordan. … It is estimated that MJ takes home 130 million dollars a year, four times more than James, the number 2, with 32 million.
With his new deal with Nike, Ronaldo becomes the third athlete to sign a lifetime contract with the company. Nike also has “for life” deals with NBA greats Michael Jordan and LeBron James. No details on Ronaldo’s deal have been released, but the partnership will remain in place even after he withdraws.
Nike Inc.’s (NKE) latest deal with soccer superstar Cristiano Ronaldo – a lifetime contract worth $1 billion – is a good example of these shifting marketing strategies, giving companies greater reach at a lower cost.
As of July 2020, LeBron James’ net worth is estimated at $480 million. LeBron James has made his money over the years not only from his massive NBA salary but also from some massive endorsement deals from just about every major company in America and several profitable investment firms.
Kobe Bryant must be a little pissed off today. Already depressed after his Los Angeles Lakers were kicked out of the playoffs, he wakes up to see this: ESPN reports that college basketball star LeBron James has signed a seven-year endorsement deal with Nike worth more than 90 million dollars.
James married his high school sweetheart Savannah James on September 14, 2013. They met at a summer basketball camp when James was 15 and Savannah was 12. After dating for two years, the couple got engaged in December 2011. The wedding took place in San Diego, California on September 14th of this year. They have three children: two sons—Bronny and Bryce Maximus James—and a daughter Zhuri.
Kobe, since breaking his contract with Adidas last year, has been buying up the big sneaker companies. It’s said that his asking price was outrageous – and that he allegedly required his wife to have a hand in designing his shoe – but it must be irritating nonetheless to see LeBron getting that kind of money. Kobe is a three-time world champion, and one of the top five players in the league. LeBron hasn’t played a single NBA game, not even a college game. However, this deal likely means that Nike has decided that LeBron is the new Michael Jordan and will put all of its legendary marketing and design genius behind him to make it so.
The “marquee” basketball category—basketball shoes that retail for more than $100—is home to perhaps the sexiest battle in all of footwear. It brings huge margins, close to 50%, as these cheaply made sneakers fetch prices as high as $140 (Nike tried to get $200 for a recent Air Jordan model, but the kids refused to fork out that much). Nike has traditionally owned this category, due in no small part to the phenomenal sales of the Air Jordans, but with MJ’s retirement this year there appears to be a chink in the armor.
Yeah, it’s a fantastic deal. Nike feels great about the deal. That is the most important. As good as I feel, as good as LeBron feels, Nike feels fantastic. It is the largest deal in the company’s history. His hope is that he wins even more. It’s not the first time we’ve heard of $1 billion in connection with James and Nike, but it’s the closest thing to confirmation, and from James’s oldest friend, too. James has already earned $169 million in salary and is said to earn about 44 million annually in endorsements. With the massive Nike deal, James is on his way to becoming the richest athlete of all time.