Even before he entered the NBA, LeBron James was very popular and almost every big sports company wanted to sign him. That put a lot of pressure on young LeBron, especially because he and his family needed money, and accepting one of the offers he received would make them rich immediately.
One of the companies that expressed early interest in the young basketball prospect was Reebok. When he was 18, LeBron James received a $10 million offer from Reebok, yet he decided to reject it. The company wanted James to sign with them and promise them he will not talk to Nike, Adidas or other companies, but James had other plans.
He was still in high school when he was approached with with this offer, and it is incredible that he rejected it considering how much he needed money. Many people would accept the offer without any hesitation, but LeBron James was different.
James' move was bold, yet very smart
"If you promise me you won't go talk to Nike or Adidas, you can take this right now," Reebook CEO Paul Fireman said to LeBron James in the meeting they had. The agreement was simple, and all LeBron had to do is to sign the check and ignore everyone else who approached him with a contract. However, James decided to wait and see other options as he believed that he could get a better contract. James realized that if Reebok is offering him $10 million, other companies are probably willing to offer him even more money.
It’s crazy to think @KingJames turned down $10 million when he was 18 years old. #KneadingDough pic.twitter.com/j9T9WlKTFe
— UNINTERRUPTED (@uninterrupted) April 29, 2017
His rejection turned out to be a very smart move, as he eventually signed a contract with Nike that was worth $90 million. If James accepted Reebok's offer, he would have no other option and $10 million would have probably been his biggest paycheck.
LeBron's contract with Nike is much more valuable
The young superstar did not only get $90 million from Nike with his first contract with them, but he also signed a lifetime deal with the company in 2015. Even though the details of this contract haven't been revealed, a lot of people speculate that it was worth over $1 billion.
Considering that it is a lifetime contract and that LeBron James is one of the greatest players to ever play in the NBA, this speculation makes a lot of sense and it could be right.
James became the face of Nike and he is one of the most popular athletes to sign with this company. While rejecting a $10 million offer seemed like a bad idea 14 years ago, it is now obvious that it was one of the smartest business decision LeBron James has ever made.
