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LeBron James has taken a huge step toward his goal of becoming a billionaire by signing a lifetime shoe deal with Nike.
It is the first lifetime deal ever inked by the sportswear giant, although Michael Jordan’s Air Jordan brand agreement is one in all but name, and ESPN reports it will be the largest deal in the 44-year history of the company, comfortably exceeding the 10-year, $300million contract signed with fellow NBA star Kevin Durant.
The NBA star has been aligned with Nike since he was drafted by the Cleveland Cavaliers in 2003 and was believed to already be earning around $30million annually prior to this announcement. The LeBron shoe line is expected to hit sales of more than $400million in 2015.
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