LeBron lives Sprite-ly life

LeBron James has evolved into a legalized form of gambling with corporate America.

James is the basketball flavor of the moment on whom corporate America is betting a considerable sum to be the next Michael Jordan or Magic Johnson. Wherever James goes these days, he is usually trailed by someone lugging a suitcase of money from corporate America.

James stops at a convenience store, and someone wants to hand him a bunch of money to endorse a chili dog. He goes to a shopping mall, and store owners are prepared to hand over their inventory in exchange for his stamp of approval.

It can't be easy. It must get tiresome.

James steps outside his house and people start throwing money at him. Everyday is a ticker-tape parade with James, only the adoring throng is throwing dollar bills in his direction instead of confetti.

Not too long ago, James was just another high school basketball player with a Hummer H2.

Now he is a high-powered businessman who has a team of marketing advisers, legal gurus and image consultants endeavoring to bring his deity-like presence into your home.

Via Washington Times

Cleveland Cavaliers, Washington Wizards

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James signs six-year marketing deal with Coca-Cola

First came a $90 million endorsement deal with Nike. Then, a $5 million partnership with Upper Deck.

On Thursday, LeBron James pumped millions more into his portfolio by signing a six-year marketing deal with Coca-Cola that will pay him more than $2 million per year. Sources said it is the largest beverage deal signed by a basketball player. Jeff Gordon's deal with Pepsi and Dale Earnhardt Jr.'s deal with Budweiser are believed to be higher.

"From the very beginning we said we wanted a company that would be willing to allow LeBron to transcend the athletic world," James' agent, Aaron Goodwin, said Thursday. "The fact that he is endorsing a lifestyle as well an an athletic brand is evidence of that."

Coca-Cola announced it will use James in campaigns for both its Sprite and Powerade brands, which will include special LeBron packaging. Powerade is second to Gatorade in sports-drink sales with about 14 percent of the market. Gatorade owns 83 percent.

It is believed that James will receive some sort of additional compensation should Powerade grow during the endorsement deal.

Via ESPN

Cleveland Cavaliers

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James Already Is All-Star Pitchman

LeBron James, 18, became the NBA's No. 1 draft pick only two months ago and has yet to play a minute in a regular season game, but already he has garnered around $100 million in endorsements. His No. 23 Cleveland Cavaliers jerseys are among the hottest-selling licensed apparel in sports, easily outdistancing established names like Kobe Bryant and Michael Jordan. His inaugural basketball card for Upper Deck sold out in a week.

James has provided a giant pop to the Cavaliers' ticket sales and injected lots of buzz into the NBA marketing machine: His jersey has been the main attraction on the NBA Store Web site this summer and the Cavaliers are scheduled for 13 games on national TV next season vs. none over the last three years.

"We haven't seen a high school ballplayer come into the league with this much hype, and who has been that good at such a young age since Lew Alcindor came out of New York," said Jeff Chown, managing director of The Marketing Arm.

The question is: Will the 6-foot-8 Akron, Ohio, high school phenom be the next Tiger Woods and fulfill expectations for his league and for his sponsors, which already include shoe giant Nike and trading card company Upper Deck and could include Coca-Cola? Or will James be a flame-out like Sam Bowie (who was drafted before Jordan) and bounce around the league a few years before becoming a trivia question?

Via Washington Post

Cleveland Cavaliers

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