LEBRON JAMES: How the king of the NBA spends his millions
On the court, LeBron James has won four MVPs and two NBA championships and has reached five consecutive NBA Finals — all before turning 30.
Off the court, he's equally relentless. On Monday, James signed a lifetime endorsement deal with Nike — a move that was so big it is more like the merger of two corporations — becoming the first athlete in the company's 44-year history to do so.
As a result of his unwavering successes on and off the court, James has amassed amazing cars and houses and still has time for his surprisingly normal family. King James is also well on his way toward his goal of becoming a billion-dollar athlete.
On Monday, LeBron James of the Cleveland Cavaliers inked a lifetime deal with Nike. Details about how much the NBA star will receive for the contract are finally coming to light.
Sam Amick reports James will make $30 million a year. For the rest of his life.
This is the first lifetime deal in the history of the company. It's also the largest contract the company has ever committed to.
It looks like LeBron will be the center of the Nike brand's NBA unit. Stephen Curry and James Harden both recently signed to different brands.
James has been with the company since high school so he will legitimately be with the brand for the entirety of his adult life.
LeBron James' new deal with Nike is worth, and it sounds like a monster
(Ezra Shaw/Getty Images)
On Monday, LeBron James and Nike agreed to a lifetime deal, first reported by ESPN's Darren Rovell.
The deal is the biggest commitment Nike has ever made to an athlete, and it's a game-changer for athlete endorsements down the line.
While the terms of the deal haven't been made public, if it's going to last a lifetime, it obviously must be worth a tremendous amount of money.
Reporters connected to the situation have talked to people and there's been some speculation on how much the deal is worth. It sounds like a monster.
If Amick's numbers are accurate, that would put LeBron on pace to make $1 billion from the deal alone by the time he's 64 years old. Considering he's already made over $169 million in salaries and reportedly makes $44 million in endorsements per year, LeBron could end up the richest athlete of all time.
Of course, that $30 million per year figure could be off, and there's a possibility that the annual value could fluctuate as he gets older.
Nonetheless, this is a huge bet by Nike. LeBron James is only 30, but he's in his 13th season in the NBA. He's on the back-half of his career, but Nike is betting that LeBron will stay relevant, evn long after he's done in the NBA.