LeBron James, even before his debut in the NBA, was a big name. He was perhaps the most anticipated draft straight from high school in the history of the league. Dubbed the Chosen One, the expectations with James were through the roof.
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So, naturally, for a prospect of such value, shoe companies were lining up at LeBron’s door to sign him. Among the brands chasing the high schooler, the big 3 of that time – Adidas, Nike, and Reebok – were also part of the chase.
The chase, just like LeBron’s career until now, was legendary. There had been nothing of the sort of money that was put on the table for LeBron. Even the first offer from Reebok was so extravagant, it was hard to believe the one at the receiving end was just 18.
However, LeBron famously gave Reebok the cold shoulder at the last moment. After he went with Nike, the brand released a press statement. As surprising as the statement was, it was also allegedly false.
Reebok lies about losing LeBron James to Nike
As per reports, Reebok’s final offer to LeBron was close to $115 million. Reebok had also dramatically offered the youngster a check for $10 million in their first meeting. Gloria, LBJ’s mother, had reportedly cried when she saw the check in her hands.
However, James’ heart was stuck on Nike. Like his idol Michael Jordan, he too wanted to play with the swoosh on his feet. Unfortunately, Nike’s offer was nowhere close to $115 million. They, even on the day when the deal was signed, could only offer James $87 million.
Yet, Nike won the deal. It was all because of LeBron’s love for the brand and his bond with Lynn Merritt. The loss of such a high potential client and the high stake chase led Reebok to release a statement after losing James. Apparently, even their stocks took a dip because of Nike bagging LeBron.
So, as a response, Reebok claimed in their statement that Nike had outbid them. They stated that Nike’s offer was too big to be matched and they had pulled out of the chase. This was obviously a lie as Brian Windhorst wrote in his book, LeBron James Inc.: The Making of a Billion-Dollar Athlete.
Brian Windhorst: “This was extraordinary. A multinational corporation having to put out a statement about not signing a teenager to an endorsement contract. It was also not true: Reebok had offered more money. When they saw the news reports of the deal being worth $90 million, even if they weren’t exactly accurate, the Reebok officials knew. They tweaked Nike anyway.”
Reebok executives waited till the last day
Until the day he signed with Nike, LeBron was internally split between the two brands. One part of him wanted the $115 million. It was an enormous amount. For an 18-year-old who had grown up in a financially challenged household, an immediate check for $10 million also provided instantaneous luxury.
On the other hand, James had always dreamt of wearing Nikes when he started his professional career. Moreover, Lynn Merritt had converted James into a Nike believer. He would let the decision hang until the very last day. Reebok believed they were going to sign James and were in a hotel in Akron, but LBJ called up Nike and revealed his decision. Thus sealing Nike’s partnership with the one who would challenge even Michael Jordan.
