LeBron James to Re-Sign With Nike

by March 22, 2010

Unlike his playing career, the Plain Dealer reports that there will be no suspense when it comes to who will pay James gobs of money to wear and promote certain running shoes: “James hinted on Sunday that he was close to agreeing to a long-term extension with Nike to continue to be one of their top pitchmen. James’ original seven-year contract that paid him in excess of $100 million with bonuses is set to expire in a couple of months. ‘I don’t plan on going anywhere, maybe I already have a agreement,” James said perhaps not wanting to take away from a formal announcement. ‘I take care of my business on and off the court.’ Last year, James signed an extension with Coca-Cola when a six-year deal he signed when he was 18 expired. Coke — which has used him to pitch Sprite, Powerade and now Vitamin Water — and Nike continue to be his longest-running business partners. It isn’t clear just how much James’ new Nike deal may be worth. The numbers can always been inflated to assume certain incentives and royalties from sales. When James’ initially signed with Nike, at least $90 million was guaranteed including a $10 million signing bonus.”