Taking a closer look at LeBron James' shoe deal with Nike
LeBron James' shoe deal with Nike is one of the most iconic and lucrative in the history of professional sports.
Twenty years ago, when LeBron James was drafted by the Cleveland Cavaliers, few could have predicted what the future would hold. Over the course of the next two decades, James would go on to become one of the greatest players in the history of the game. With that said, some of the most impressive things James has done have been off the court.
From his investments in countless businesses to his stake in major sports franchises, James has continued to grow his empire. One of the biggest sources of income throughout the course of his career has been LeBron James' shoe deal with Nike.
LeBron James' shoe deal with Nike
Prior to being drafted, James had a slew of companies vying to sign him to a shoe deal. As the story goes, LeBron met with Reebok first, who offered him a $100 million deal. In hopes of swaying the budding eighteen-year-old star, they wrote a check for $10 million on the spot. The only request? Don't meet with Nike or Adidas.
It put James in a tough spot. He and his mother admittedly could have used the security that the money would have provided. As he recalled in a video produced for his company Uninterrupted, he had no way of knowing whether or not Nike would give him money upfront.
With a $17-a-month rent (yes, you read that right), James turned the money down, and then went back to high school the next day like every other kid.
Check out the video below of James discussing the situation with his longtime friend Maverick Carter for an episode of 'Kneading Dough.'
Faced with a tough test, James and his team ultimately wound up signing with Nike, a move that would prove to be incredibly lucrative over the course of his career. His initial deal locked him in for the next seven years and wound up making the teenager a whopping $90 million.
It wasn't just his initial deal with Nike that earned James a truckload of money, however. After a decade of being the face of Nike basketball shoes, the company decided to lock him into a lifetime contract. Prior to the success of James' shoe, no other athlete, with the exception of Michael Jordan, had sold as many shoes.
Throughout the course of his lifetime, James will earn a reported $1 billion from the 2016 Nike deal. According to reports, Nike earns over half a billion from sales of James' shoes as well. It's something that has helped James continue to grow his net worth over the years and propel himself to billionaire status.
Nike special edition shoes for LeBron James
Over the years, there have been several notable editions of James' shoes released by Nike. Arguably the two most notable ones were previous releases of the shoe. The Nike LeBron 7, released in 2010 is still widely believed to be one of the best-performing basketball shoes of its era. The same year, Nike released the LeBron 8s, which served as the first release following his controversial move to Miami.
LeBron and Nike continue to push the barriers. Just this week, James debuted a brand new colorway for his Nike LeBron 20s, which have already taken the league by storm. So far this season, more and more players have donned the low-top Nike LeBron 20.
Considering the fact that the brand has been putting out LeBron shoes for nearly two decades now, it's impressive they have continued to innovate. The shoes were traditionally more of a mid-to-high-top style. The latest version, however, is a low-top shoe that's reportedly the lightest LeBron model ever released.
After twenty years in the league, and millions of dollars in sales, it's safe to say LeBron James' shoe deal with Nike has been a success.
Were there any iterations of LeBron's shoes released through Nike that you particularly loved? Or were there any that you particularly didn't like? Give us your thoughts and weigh in below in the comments section!
While you're here, check out the video below of LeBron James giving fans an inside look at his sneaker collection. The video, from back in 2016 after he closed his lifetime deal with Nike, gives fans a look at some signature Player Edition shoes done exclusively for LeBron James.