Lebron James has absolutely taken advantage of the business opportunities that have come along with NBA stardom. Last month when word was announced that “Beats By Dre” would be sold to Apple for $3 billion, I mentioned how Team USA basketball in the summer of 2008 set the stage for Beats to become a lifestyle brand.
Lebron James was on that team. He didn’t take payment for endorsing the brand, he opted for stock options. Per ESPN, Bron looks to make a nice $30 million from the sale.
finalizing what is believed to be the biggest equity cash payout for a professional athlete in history as part of Apple’s recent $3 billion purchase of Beats Electronics. Sources briefed on the situation say James realized a profit of more than $30 million in cash and stock in the Beats sale after he had struck a deal to get a small stake in the company at its inception in 2008 in exchange for promoting its high-end headphones.
If Michael Jordan was the blue print, LeBron is building a more lucrative model. Can you imagine what his retro business is going to be like for Nike in the next 10 – 20 years.