Nike Signs NBA Star Lebron James to Lifetime Contract

Sportswear giant Nike has officially signed National Basketball Association (NBA) star LeBron James to a lifetime contract.

The contract represents the first lifetime deal signed by Nike and the biggest deal in the company’s history.

It is also reported to be the record single athlete deal, exceeding the $300m (£200m) deal Nike signed with fellow NBA star Kevin Durant of the Oklahoma City Thunder.

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

“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.”

James’ business partner Maverick Carter said: “LeBron and I have been in love and obsessed with Nike since we were kids.

“Having built a totally innovative, global business with them has truly been a dream come true. We are so excited to be taking the business to an entirely new level. For LeBron, he’s thrilled to know he’s a Nike guy for life.”

James, of the Cleveland Cavaliers, first signed a $90m deal with Nike just before he entered the NBA in 2003.

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