Nike has signed Cleveland Cavaliers forward LeBron James to a lifetime deal in what one source familiar with the negotiations said is the largest single athlete guarantee in company 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."
A company spokesperson would not say how much Nike paid.