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Nike Signs Lifetime Deal with LeBron James

Cleveland Cavaliers forward LeBron James has signed a lifetime deal with Nike. Since joining up with Nike in 2003, James’ shoe has gone through 13 models, more than any other athlete outside of Michael Jordan, according to ESPN.

Nike said in a statement to ESPN, “We can confirm that we have agreed to a lifetime relationship with LeBron that provides significant value to our business, brand and shareholders.”

This is believed to be the first lifetime deal in the company’s history, and Nike would not disclose how much James was paid. ESPN reported that Maverick Carter, James’ business partner, will manage the deal, which was negotiated by Main Street Advisors’ Paul Wachter.

Nike first signed James to a seven-year, $90 million deal, which was the largest athlete deal on record at the time.