At 24 years old, LeBron "King" James is well on his way to revolutionizing the game of basketball. This six foot, 8 inch, 250 pound giant breaks records season after season, performs arena-shaking dunks with a frightening blend of grace and power, and has even created the new position of point forward. This mammoth of a man could reach the pantheon of greatness reserved for a chosen few.
Off the court, LeBron James has already changed the rules. Like most athletes James gains a large portion of his income and popularity from endorsement deals. The similarities end there. At the age of 18, before he even stepped on hardwood as a professional, James signed a $90 million endorsement deal with Nike, one of the most lucrative contracts in history. At 21 years old he dropped his agent, befriended Warren Buffet, and started his own business. Now instead of merely cashing checks from endorsement deals, LeBron has changed the model of how to make revenue off his growing star power. He has created his own marketing firm and buys equity in companies he does business with including Bubblicious, Warren Buffet, Nike, and
Facebook.
Many claim LeBron James could become the next Michael Jordan or that he might become the first billion dollar athlete. I think these points are irrelevant. LeBron James has changed the game on and off the court. It’s encouraging that kids admire an individual with not only the physical attributes to dominate the court, but the mental attributes to be successful in business. Perhaps the question people should be asking is “Who will be the next LeBron James?”
For more information visit: http://money.cnn.com/2007/11/28/news/newsmakers/lebron_james.fortune/index.htm
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment