LeBron James is set for life with his new contract from Nike. The Cleveland Cavaliers' superstar will receive at least $500 million during the course of his new lifetime shoe deal with apparel giant Nike. It's the first time Nike has given a lifetime contract in its history.
It's a record-breaking deal for James and he'll earn more than $30 million per year, based on current rate of sales. While the exact figure has yet to be announced, USA Today reports it will significantly exceed $500 million.
It's just the latest in a long line of massive shoe deals signed by NBA superstars. Portland Trail Blazers guard Damian Lillard signed a $100 million deal with Adidas. Oklahoma City Thunder forward Kevin Durant received a $300 million deal from Nike. James Harden of the Houston Rockets signed with Adidas for $200 million.
But all those contracts pale in comparison to the one James signed. Despite Stephen Curry's recent success, James is still the biggest superstar in the NBA. He's averaging 26.5 points, 6.4 assists and 7.9 rebounds this season. He has the Cavs in first place in the Eastern Conference with a 14-7 record.