For the rest of his life, LeBron James will be wearing Nike.
According to ESPN's Darren Rovell, James signed a lifetime deal with Nike on Monday. Very few athletes get lifetime deals with a sneaker company (Allen Iverson has one with Reebok) and James is the first athlete to ever sign a lifetime deal with Nike.
From Rovell:Nike has signed Cleveland Cavaliers forward LeBron James to a lifetime deal in what one source familiar with the negotiations said is the largest single athlete guarantee in company history.
"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. "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."
A company spokesperson would not say how much Nike paid. It is believed to be the first lifetime deal in the shoe and apparel company's 44-year history.
A source close to the deal told ESPN that it easily surpasses the 10-year, $300 million deal Oklahoma City Thunder forward Kevin Durant signed with the world's largest shoe and apparel brand last summer.