LeBron James signs lifetime deal with Nike
LeBron James has signed a lifetime deal with Nike.
The 30-year-old basketball player has taken pen to paper and scribbled his signature on a life-long contract with the footwear company after he was offered a large sum.
According to ESPN, the sportsman told reporters earlier this week: "I'm very humble, man. 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."
It's believed the deal could earn the sportsman more than $60 million (£40 million) a year but details surrounding the large-figure deal have been kept underwraps.
Nike said in a statement: "We can confirm that we have agreed to a lifetime relationship with LeBron that provides significant value to our business, brand and shareholders.
"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."
The popular brand believes the deal could be as big as Michael Jordan's "de facto" lifetime contract following a couple of difficult years for the company recently.
It's believed Nike lost tens of millions of dollars after it stood by Tiger Woods during his infidelity scandal.
Lance Armstrong and Oscar Pistorius, who lost their Nike sponsorship in 2012 and 2013 respectively, have also caused trouble for the company.