LeBron James has terminated a long-term contract with Coca Cola to ink a deal with world leaders PepsiCo.
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A spokesperson for Coca-Cola revealed that his deal with the Atlanta-based soda giant expired in September.
“LeBron’s contract came up at a time when both he and The Coca-Cola Company were actively reviewing all of its resources to make sure it was investing in places that ensured long-term growth,” Coca-Cola said. “After many discussions with Lebron and his team, we mutually agreed to part ways.”
PepsiCo has steadily gained ground on Coca Cola over the course of this century. While Coke is still the king of beverages, PepsiCo is focused more on snacks items. Products like Lays have helped PepsiCo consolidate their hold over emerging markets like India.
LeBron James apart, who else is signed to PepsiCo?
The NBA cut 28-year-old ties with Coca Cola to sign with PepsiCo in 2015. This change led to a major branding push by PepsiCo, especially on occasions like the All Star Weekend.
James would join a growing team of NBA and WNBA stars pitching the rebranded “MTN DEW”. Zion Williamson, Joel Embiid, Jamal Murray and WNBA 2020 MVP A’ja Wilson are already on their roster. They’ll only be adding more NBA athletes in the near future.
According to sources, James will become the face of Mountain Dew’s upcoming “Rise Energy” line. After nearly 18 years as an endorser for Coca Cola’s Sprite and Powerade brands, James will now be switching things up.
This deal is also expected to change things up at Blaze Pizzas – a chain that James owns a nearly 10% stake in. Previously, Blaze had a tieup with the Coca Cola family of products. Now the chain is expected to enter a partnership with the second largest F&B company in the world.
