Los Angeles - LeBron James has signed a lifetime deal with US sporting goods giant
Nike it was confirmed on Monday in what was described as the largest
single athlete deal in the company's history.
Nike confirmed the agreement - believed to be the first lifetime deal in the company's 44-year history - in a brief statement.
"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.
"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."
No figures for the deal were available but a source familiar with the
terms told ESPN it easily eclipsed the $300 million, 10-year deal Nike signed with Oklahoma City Thunder forward
Nike has a longstanding partnership with Michael Jordan but has never
announced a lifetime deal before. Sales of Nike's Air Jordan brand have
exceeded $2.2 billion in sales since 1985.
Nike, which signed James to a lucrative seven-year $90 million deal
in 2003, has made 13 versions of LeBron's signature shoe, with annual
sales expected to pass $400 million for 2015.
According to Forbes.com, James is the sixth highest earning athlete in
the world, raking in annual earnings of $64.8 million according to a
list issued in June.
The Cleveland Cavaliers star's net worth is
estimated at around $300 million.