Basketballer LeBron James signs lifetime deal with Nike
NBA star LeBron James of the Cleveland Cavaliers has signed a lifetime deal with shoe and apparel company Nike.
It is not clear how much the deal is worth but it is believed to be the first lifetime deal in Nike's 44-year history.
"We can confirm that we have agreed to a lifetime relationship with LeBron that provides significant value to our business, brand and shareholders," Nike said in a statement.
"We have already built a strong LeBron business over the past 12 years, and we see the potential for this to continue to grow throughout his playing career and beyond."
"It's been an unbelievable time for myself and my family, and I'm just grateful that Nike and [Nike founder] Phil Knight and everyone over there just believed in a skinny-old, skinny 18-year-old kid from Akron, Ohio, and I'm happy to be a part of such a great company," ESPN Online reported James as saying.
James, 30, has been with Nike since he started playing professional sports.
Off the court, he has accumulated considerable wealth and fame from numerous endorsement deals.
The star has "equity stake in Beats earned him at least $30 million when the company sold to Apple, and he has territorial rights in Chicago and Miami to Blaze, a customizable pizza chain," ESPN reports.