Nike has signed a lifetime deal with LeBron James, with media speculating that it may have reached more than $300 million and USA Today even putting it at more than $500 million. Nike said that it built up a strong business around the Cleveland Cavaliers player in the last twelve years and it saw potential to continue building that for the rest of his playing career and beyond. The partnership was formalized in 2003, when Nike reportedly signed James to a seven-year deal worth about $90 million, which was extended in 2010 for nine years. The deal with LeBron James was described as the first lifetime contract signed by Nike, although its relationship with Michael Jordan may amount to a similar arrangement. Nike indicated in October that it achieved annual sales of more than $2.2 billion with the Jordan brand.

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