While many people are trying to figure out which city Lebron James will take “his talents” to next, other analyst are speculating when Lebron will reach a net worth of a Billion dollars! You see, thanks to a hefty max contract (whether it’s from Miami or Cleveland), along with endorsements and investments, Lebron James is situating himself to be an astute businessman on and off the court. Check out CNN Money’s latest report on how Lebron will reach this great feat!
[ CNN Money Excerpt Via Chris Isidore]
–“Not that James will be playing for pocket change. He’s expected to sign for the maximum allowable contract under the National Basketball Association ‘s labor agreement. And he’s already been paid about $128 million in his first 11 years as a pro.
But those contracts are dwarfed by his endorsement deals. Before he played his first minute in the NBA, Nike had signed the then-teenager to a seven-year, $90-million endorsement deal. Other deals include those with Coca-Cola (KO), McDonald’s (MCD), Samsung (SSNLF) and Dunkin Brands (DNKN).
Maverick Carter, a high school friend of James who is his partner in LRMR, told CNNMoney back in 2007 that James’ billion-dollar goal was centered around the investments more than his playing income or endorsement deals.
“It’s impossible to get to a billion dollars by endorsement deals,” said Carter. “The biggest deals only take you so far. It’s how you make money when you’re asleep that’s going to get you there.”
Among his investments is a minority ownership in the Liverpool Football Club, the British soccer team that he bought into as part of a deal with the Fenway Sports Group. The Fenway Sports Group is the majority owner of not just the Liverpool team, but also the Boston Red Sox and Roush Fenway Racing, a NASCAR team.”–
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