When news of LeBron James’ lifetime deal with Nike crept into the limelight, speculation immediately swirled surrounding how much James would make over the course of the contract. Retro sneakers, apparel, perhaps his own James Brand—when you extrapolate it all over 50-plus years, it’s safe to assume that the deal was the largest the four-time MVP had signed in any capacity.
Early reports of the deal said that James had surpassed the 10-year, $300 million deal signed by Oklahoma City’s Kevin Durant. Then it was Kanye West who, in “FACTS” rapped that Nike had given James “a billi” or, $1 billion. What was initially thought of as a way for Kanye, an adidas-sponsored celebrity, to mock Nike and Jordan Brand, might actually be a fact (or FACT) thanks to this interview with James’ manager Maverick Carter.
Here’s Mark Anthony Green (of Grails fame) and Carter:
So you just negotiated an unprecedented lifetime contract for LeBron with Nike. What’s your secret to being a great negotiator?
You have to go into the room understanding a couple things. You have to know what you want. You have to know how to clearly articulate those things. You have to know what’s important to the other side and what they want. Be able to articulate those things, too. And then you have to be willing to not take everything. If you go into the negotiation like, I’m gonna get every dollar, every piece of real estate—I’m just gonna take this guy’s fucking pants off—you may be able to do that once, maybe twice, but after that, people aren’t going to want to do business with you. When you’re negotiating something like the Nike deal, it’s gonna last a lifetime, literally. The minute this negotiation’s over, we’re gonna work with these people every day. So you don’t want to leave them with a bad feeling.
How much was the deal for?
I can’t say.
Come on, Mav! Can you ballpark it?
What are people saying?
Kanye said a billion. So a billion.
[Maverick smiles and points one finger skyward.]
Holy shit.
Yeah. It’s a fantastic deal. Nike feels great about the deal. That’s the most important thing. As great as I feel, as great as LeBron feels—Nike feels fantastic about it. It’s the largest deal in the history of the company. Their hope is he makes even more. And our hope is that, too, obviously.
How important is it to keep projects secret while you’re still hashing them out?
It’s just easier to get shit done that way. If you and I were in charge of Coca-Cola, it’d be hard to get shit done.
Now, it’s worth pointing out that Carter never stated that the deal is in fact for exactly $1 billion, but given what James has meant to Nike since coming out of high school, if any player was going to get that “billi,” it’s Cleveland’s No. 23. James, becoming friends with notable businessmen like Warren Buffett, has always wanted to become a billionaire thanks to maximizing his income with a series of one-year contracts late in his career coupled with deals with The Swoosh, Sprite, McDonalds, State Farm, Progressive, and now Blaze Pizza. If any of these deals, however, were to push him over the top, it’d be one that would conceivably play him $20,000,000 a year for the next 50 years.
Nike has already slammed on the gas pedal, giving today’s more experiential demographic what they’re looking by adding storylines to their gear. They’ve given James his own typeface and branding package. And now, it just appears they’re waiting for the Cavs’ small forward to make his own move. When he does call it a career, regardless of if it’s his doing or that of his kids, Nike will be ready to forge the next chapter in their collective journey with the goal of keeping James’ name at the forefront of the game well beyond his playing days.
[Also see: LeBron James addresses deal with Nike (Video)]
5 Comments
Congrats LBJ. You did it!
He’s always come across as a smart businessman. Good for him.
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Just to be clear, I interpreted the “one finger skyward” to mean it’s more than $1BB.