LeBron James paid it forward to his mother when he signed a lucrative contract with Nike.
The Akron, OH, athlete was drafted to the NBA in 2003 as a No. 1 overall pick, according to Basketball Reference. In his rookie year with the Cleveland Cavaliers, he caught the attention of Nike, Adidas, and even Reebok, which would have amounted to a $10 million shoe deal. As AFROTECH™ previously reported, James ultimately rejected the Reebok deal since it came with the condition of being unable to speak with other companies.
“Me and my mom were living in an apartment—section 8 housing in Akron. I’m going back. I don’t have sh-t, whatever, and my mom looked at me. She said, ‘Son, trust your gut. If they’re offering you this, then who knows what the other companies may offer you.’ She’s super composed. She’s like, ‘We ain’t got sh-t already, so it’s not like it changes our life in this moment. Maybe in the future, but I want you to trust your gut and do what you think is right,’” James said on the “New Heights” podcast hosted by football stars and brothers Travis and Jason Kelce.
James went on to sign a seven-year Nike deal reportedly valued at $93 million in May 2003, per CNBC. His first priority after signing the deal was to move his mother out of Section 8 housing.
“I signed with Nike cause I got a hell of a signing bonus, and they gave me a seven-year $90 million contract, and I moved my mom out of the hood the next day I signed that contract, and ultimately, my whole thing is like, ‘What do I want to wear off the court.’ I want to wear Nike. I want to wear Jordans, I want to wear Penny’s,” James said on “The Pat McAfee Show.”
James’ relationship with Nike remains strong today. His business partner, Maverick Carter, told CNBC, “Our relationship with Nike is more than a shoe deal.” Carter said, “It’s more like a joint venture—meaning we are working to build a business.”
In 2015, James secured a lifetime deal with the retailer, reportedly worth nearly $1 billion.
“It meant a lot to me even when I signed my first deal just to be with Nike, and it means even more that they’ve given me this,” James mentioned, according to ESPN. “It’s like I said, very humbling and grateful, and I’m going to continue to do my job and represent the brand the best way I can, like I know how. Hopefully, people see that.”