Author Topic: LeBron, Nike agree to $90 million seven-year deal  (Read 1827 times)

Hittman2001

LeBron, Nike agree to $90 million seven-year deal
« on: May 22, 2003, 03:22:21 AM »
 :o


LeBron James is more than a month away from signing with an NBA team, but Wednesday night, the 18-year old phenom -- projected to be the No. 1 pick in the June 26 draft -- agreed in principle to a seven-year deal with Nike, sources told ESPN.com.

Sources said the deal was worth more than $90 million, but less than the five-year, $100 million deal Tiger Woods signed with Nike in Sept. 2000. The deal also includes a $10 million signing bonus.

James' agent Aaron Goodwin and family publicist Alexandria Boone both declined to comment. Boone said only that an announcement would be released Thursday.

The battle for James -- which formally began when he declared for the draft on April 25 but actually had begun years before -- was thought to be only between adidas and Nike.

Nike, a $10 billion company with the largest market share in the athletic shoe business, was willing to spend plenty, but James' St. Vincent-St. Mary team had worn adidas, thanks to the work of adidas' director of basketball Sonny Vaccaro. Vaccaro also declined to comment on James' reaching an agreement with Nike.

But once James turned pro, Reebok executive Tom Shine -- who could not be reached for comment Wednesday night -- told ESPN.com that he kept quiet to respect James' amateur status. Over the past few days, Reebok emerged as the favorite, but in the end James went with the swoosh, less than 24 hours before the league lottery.

Rick Burton, executive director of the Warsaw School of Sports Marketing at the University of Oregon, said watching how Nike shareholders respond to the news on Thursday should be interesting.

"When Tiger Woods signed his first deal with Nike worth a reported $40 million, one analyst said that Nike overpaid and downgraded the stock," Burton said. "A couple weeks later, when Tiger won the Masters, it was concluded that they had bought the right guy. We'll obviously have to wait until October to see the first glimpse of LeBron."

With Nike officials confirming on Tuesday that they had signed Carmelo Anthony, the company could have locked up the first two picks of the NBA Draft, which takes place on June 26. The company also is expected to announce a deal soon with Kobe Bryant, once a penalty clause expires in Bryant's existing deal with adidas in June.

Wednesday was a big business day for James, as he also signed an exclusive trading card and memorabilia deal with Upper Deck. Goodwin declined to give specifics, but one source with knowledge of the deal told ESPN.com it was a five-year contract worth at least $1 million per year plus a $1 million signing bonus.


www.espn.go.com
 

T.J.

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Re:LeBron, Nike agree to $90 million seven-year deal
« Reply #1 on: May 22, 2003, 03:27:06 AM »
WHAT THE FUCK
honestly i dont think he is worth that much....... wtf?? even if he is projected 1st pick....

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7even

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Re:LeBron, Nike agree to $90 million seven-year deal
« Reply #2 on: May 22, 2003, 07:06:51 AM »
this kid is rich for life fore even entering the nba.. damn.. im gettin jealous
Cause I don't care where I belong no more
What we share or not I will ignore
And I won't waste my time fitting in
Cause I don't think contrast is a sin
No, it's not a sin
 

Sub-Z

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Re:LeBron, Nike agree to $90 million seven-year deal
« Reply #3 on: May 22, 2003, 01:08:41 PM »
if i was him id just retire right now lol
 

Don Jacob

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Re:LeBron, Nike agree to $90 million seven-year deal
« Reply #4 on: May 22, 2003, 08:53:29 PM »
hell i'd take a $90.00  contract with a $10.00 signing bounus just to wear free nikes


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DaSchizophrenic1

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Re:LeBron, Nike agree to $90 million seven-year deal
« Reply #5 on: May 22, 2003, 09:37:23 PM »
Fuck that shit man, I'd pay them $90 and give them a $10 bonus to wear all that shit. But on a serious note, do you guys think that he's really worth that much money? I mean $90 million  :o
 

The Watcher

Re:LeBron, Nike agree to $90 million seven-year deal
« Reply #6 on: May 22, 2003, 11:29:18 PM »
they've got big hopes for him, this kid must be special
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The Big Bad Ass

Re:LeBron, Nike agree to $90 million seven-year deal
« Reply #7 on: May 23, 2003, 12:53:49 AM »
Damn, I don't see why in the world they'd give him that kinda money right now. They could get 6 or 7 allstars to sign with that kind of scratch, but instead they go for an unproven hype. Fucking Nike man. I wish I had that kind of money to risk. I think Lebron will be a good pro, but jesus man... what happens if he Hank Gathers on the court the first day of play....
 

Now_Im_Not_Banned

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Re:LeBron, Nike agree to $90 million seven-year deal
« Reply #8 on: May 23, 2003, 05:58:46 PM »
LMAO...He was playing against High School Students...Even Slava Medvadenko would be a superstar playing against High Scool Students... ::)
 

Lost Titan

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james getin paid 90 mill to wear nikes
« Reply #9 on: May 27, 2003, 07:44:00 AM »
yo did you hear  L. James getting paid 90 mill to wear nikes. he can retire even before playing
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The Big Bad Ass

Re:LeBron, Nike agree to $90 million seven-year deal
« Reply #10 on: May 27, 2003, 08:04:17 AM »
^^ Titan, this topics been here for about a week. Just mergered you into this one.
 

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Re:LeBron, Nike agree to $90 million seven-year deal
« Reply #11 on: May 27, 2003, 09:58:12 AM »
hes not worth all that, but everyone is going to buy his sneakers, even if hes not all that good, and in a couple years, his sneakers are gonna be selling out everywere
 

Jim Jones

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Re:LeBron, Nike agree to $90 million seven-year deal
« Reply #12 on: May 27, 2003, 11:08:17 AM »
Well at least that muthafukka aint gotta work ever agian.
 

7even

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Re:LeBron, Nike agree to $90 million seven-year deal
« Reply #13 on: May 27, 2003, 01:58:22 PM »
hes not worth all that, but everyone is going to buy his sneakers, even if hes not all that good, and in a couple years, his sneakers are gonna be selling out everywere

im goin to buy them too. lol

at least honest.
Cause I don't care where I belong no more
What we share or not I will ignore
And I won't waste my time fitting in
Cause I don't think contrast is a sin
No, it's not a sin
 

Sub-Z

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Re:LeBron, Nike agree to $90 million seven-year deal
« Reply #14 on: May 27, 2003, 02:31:00 PM »
hes not worth all that, but everyone is going to buy his sneakers, even if hes not all that good, and in a couple years, his sneakers are gonna be selling out everywere

im goin to buy them too. lol


why?  chances are theyll be fuckin ugly