Saturday, December 12, 2015

mandingo king not a businessman, he's a business, man!

espn |  Ten years ago, at age 20, LeBron James left a successful agent who had negotiated more than $150 million in deals for him so he and three friends with no experience could run his business.
The move was instantly panned. Social media was in its infancy -- James didn't have a Facebook page at the time -- yet he was widely chided for being naive and foolhardy.
But James has always had a talent for being able to take in a wider perspective and think for the longer term, even when many around him do not. It's the same skill that allows him to see two passes ahead on the floor or the driving lane no one else notices. Which is how James arrived at last Monday, when he and Nike announced his signing of a lifetime contract.
The deal, worth hundreds of millions on top of the hundreds of millions that Nike has already paid him in their 13-plus years together, was negotiated over the course of months, but it has really been under construction for years. When James signed his last Nike deal, in 2010, it included provisions to protect him. So when Kevin Durant signed a 10-year deal with Nike last summer for a reported $300 million after a bidding war with Under Armour, James knew he was going to be in position for a historic deal.
The timing, like so many of his cross-court bounce passes, was impeccable. Nike is having one of the best financial years in its history, is the best-performing stock of the year on Dow Jones and has astronomical growth projections.