In 2003, LeBron James was the most sought-after player in the world of sports. Everyone was after him, several companies wanted to sign an endorsement deal with The King, including some very reputable sports apparel companies. Adidas, Reebok, and Nike all wanted Bron to sign with them. However, James chose Nike and even took a $15,000,000 pay cut primarily due to a Michael Jordan clause.
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Nike went above and beyond in order to secure LeBron’s signature. They understood that both Adidas and Reebok had made weak pitches to King James and so, decided to capitalize on that. They made a smart move by offering him a fair bit of money. But, most importantly, as covered by Sports Illustrated, they utilized their connections with the GOAT himself in order to seal the deal.
Nike got LeBron James on board by smartly including a Michael Jordan “clause”
The partnership between Nike and LeBron James is one that is known worldwide. Having signed a lifetime deal with the company, James has been working with them for close to 20 years now. But, there was a time when The King had other options.
Back in 2003, before he was even drafted, all the big sports apparel companies wanted LeBron. Both Reebok and Adidas were in the race to get his signature. They even offered more money than Nike. However, the now-four-time NBA Champion chose to take less money to sign with them. To be specific, $15,000,000 less.
But, why did he choose to get paid less? Well, they gave Bron’s friend, Maverick Carter an internship, and even flew his mother to Oregon to meet Phil Knight. The kicker though, was the fact that the company enlisted Michael Jordan’s support. They got the GOAT to stay in touch with LeBron and his family, adding a personal touch to the negotiations.
“Nike gave James’s friend Maverick Carter a sports-marketing internship, flew James’s mother, Gloria, to Oregon to meet company chairman Knight and had Michael Jordan keep in contact.”
Their partnership was a match made in heaven. And, given how they spent millions of dollars on a presentation just for The King, shows just how intent they were on getting the deal done.
Nike’s decision to spend millions on a presentation for King James worked out well
Including Michael Jordan in the negotiations was a great decision by Nike. Having the GOAT keep in touch with him must have been a huge deal for LeBron. But, it didn’t just end there, Nike also spent millions on making the perfect presentation for James. And, with such a stellar project being presented in front of him, The King couldn’t say no. Even if that meant losing $15,000,000.
LeBron and Nike have been through thick and thin together. And, with a lifetime deal in place, their partnership will continue for a long, long time.
