In what is likely a lucrative win, LeBron James signed a lifetime endorsement deal with Nike.
Nike, the sporting goods maker, said it had “built a strong LeBron business over the past 12 years” and saw “potential for this to continue and grow throughout his playing career.”
The company did not comment on how much the contract was worth, but sports news group ESPN reported, citing a source, that it could be the largest single athlete guarantee in company history.
Mr James, the Cleveland Cavaliers forward, signed a two-year contract with the team earlier this year that is reportedly worth $47m.
Nike endorses a host of big-name athletes with the hopes that their fame will rub off on its brands.
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Michael Jordan is estimated to make $100m a year from the Air Jordan brand of shoes and athletic clothing designed, owned and produced by Nike’s Jordan Brand subsidiary.
Shares in the sporting goods group rose about 1 per cent in after-hours trading, after closing down the day about 0.53 per cent.
Date: December 7, 2015