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LeBron James signs lifetime deal with Nike

Tuesday, December 8, 2015 8:02:00 AM America/Los_Angeles

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.

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