For now and forever, LeBron James will be a Nike athlete.
According to ESPN's Darren Rovell, LeBron's deal with Nike is the first lifetime deal in company history and is also the largest single athlete guarantee in Nike's 44-year history. That includes Michael Jordan, whose Jordan brand and 'Air Jordan' shoe are two of the major reasons why NBA shoe deals are so lucrative today.
The deal is also reportedly worth more than the 10-year, $300 million dollar deal Oklahoma City Thunder star Kevin Durant signed last summer with Nike. The exact financial terms of the deal, however, have not been disclosed. LeBron has been a Nike athlete for 12 years, the entirety of his pro career.
"We can confirm that we have agreed to a lifetime relationship with LeBron that provides significant value to our business, brand and shareholders," Nike said in a statement per Rovell. "We have already built a strong LeBron business over the past 12 years, and we see the potential for this to continue to grow throughout his playing career and beyond."
As noted by Joe Vardon of the Northeast Ohio Media Group, LeBron's signature shoe made $340 million in sales last year. When James first signed with Nike before his rookie season in 2003, his deal with worth $90 million.