Money Matters: LeBron James is Nike For Life

LeBron James is officially Team swoosh for life. Monday it was announced that LeBron has signed a lifetime deal with Nike.

The exact terms of the partnership are G-14 classified, but the word is that it’s the largest in the history of the swoosh brand at approximately $30 million per year.

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

LeBron used another of his business entities to share the good news with fans. He posted a video live from his sneaker closet to announce the deal and reminisce about his collection on Bleacher Report’s uninterrupted. The project which is the creation of LeBron and business partner Maverick Carter just received a $15 million investment from Warner Bros.

I have LeBron’s first shoe too. I actually was working for Nike in 2003 when King James signed, so I’m the owner of a limited edition Zoom generation shoe from his first game in the NBA. Lebron’s 2003 deal for 7 years-$90 million was the largest of its kind at the time.

His new deal likely includes brands for a spinoff of LeBron’s brand – he introduced a new logo recently.

Nike has created more versions of James’ shoe than for any other athlete outside of Jordan. The 30th Jordan will drop in February.

LeBron continues to build his business portfolio to ensure that he will be a force long after his playing days are over. And in case you doubt his dominance, he’ll be happy to give you a reminder like he did in Miami the other night.

The King flashed his rings at fans who booed him and chanted “LeBron is tired” because he sat out the game with no documented injury. The Cavs were coming off of an overtime loss to the New Orleans Pelicans.

Just a reminder, the King brought you two…