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[h1]LeBron James will bypass free agency -- with Nike, at least: Cavaliers Insider[/h1][h4]By Brian Windhorst, The Plain Dealer [/h4][h5]March 21, 2010, 8:46PM[/h5]
Joshua Gunter / The Plain DealerLeBron James shows off his reach as he leans over Detroit's Tayshaun Prince for this first-quarter shot Sunday at The Q.CLEVELAND, Ohio -- LeBron James has one major free agent decision nearly settled.
James hinted on Sunday that he was close to agreeing to a long-term extension with Nike to continue to be one of their top pitchmen. James' original seven-year contract that paid him in excess of $100 million with bonuses is set to expire in a couple of months.
"I don't plan on going anywhere, maybe I already have a agreement," James said perhaps not wanting to take away from a formal announcement. "I take care of my business on and off the court."
Last year, James signed an extension with Coca-Cola when a six-year deal he signed when he was 18 expired. Coke -- which has used him to pitch Sprite, Powerade and now Vitamin Water -- and Nike continue to be his longest-running business partners.
It isn't clear just how much James' new Nike deal may be worth. The numbers can always been inflated to assume certain incentives and royalties from sales. When James' initially signed with Nike, at least $90 million was guaranteed including a $10 million signing bonus.
As part of that first contract, sources said, there was a potential $5 million per year bonus if James played in New York, Chicago or Los Angeles in the first few years of the deal. That clause expired, however, several years ago.
It has been a theory that endorsement money would be one reason James would consider leaving Cleveland when he becomes a free agent this summer. With the Nike extension plus deals with Coke, State Farm and McDonald's, James will likely remain as the highest-earning current NBA player when it comes to endorsements.
The Nike Zoom LeBron VII, the most recent version of James' signature shoe, has been successful and is being worn by numerous college players as well as an increasing number of NBA players.
"I think my shoes have continued to get better over the years and a lot of players, a lot of teams and a lot of colleges want to wear my shoes," James said. "I appreciate that especially around March. The VII is the best we've had so far, until the VIIIs come out."
James, who will likely have a new personal Nike logo soon because the current one features No. 23 and he's changing to No. 6, implied his new deal will lead to double figure versions of his shoe.
"I'll have a [version] eigthI and a 12 and 13 or something like that," James said.
Z return on tap: Anticipated for weeks, Monday is the first day the Cavs can talk to Zydrunas Ilgauskas about re-signing with the team. Ilgauskas' agent, Herb Rudoy, told The Plain Dealer that he hopes to get a deal done quick enough that Ilgauskas can practice and then travel with the team to New Orleans on Tuesday.
Players are looking forward to Ilgauskas' return.
"He's a good friend of mine and he's a great teammate," James said. "Z's a veteran, his play will automatically guarantee him minutes because of how good he is, how tall he is and his shooting ability. Z doesn't have to worry about not coming in and not having a role."
Coach Mike Brown has stuck to the company line and declined to talk about Ilgauskas' return until it is official
[h1]LeBron James will bypass free agency -- with Nike, at least: Cavaliers Insider[/h1][h4]By Brian Windhorst, The Plain Dealer [/h4][h5]March 21, 2010, 8:46PM[/h5]
Joshua Gunter / The Plain DealerLeBron James shows off his reach as he leans over Detroit's Tayshaun Prince for this first-quarter shot Sunday at The Q.CLEVELAND, Ohio -- LeBron James has one major free agent decision nearly settled.
James hinted on Sunday that he was close to agreeing to a long-term extension with Nike to continue to be one of their top pitchmen. James' original seven-year contract that paid him in excess of $100 million with bonuses is set to expire in a couple of months.
"I don't plan on going anywhere, maybe I already have a agreement," James said perhaps not wanting to take away from a formal announcement. "I take care of my business on and off the court."
Last year, James signed an extension with Coca-Cola when a six-year deal he signed when he was 18 expired. Coke -- which has used him to pitch Sprite, Powerade and now Vitamin Water -- and Nike continue to be his longest-running business partners.
It isn't clear just how much James' new Nike deal may be worth. The numbers can always been inflated to assume certain incentives and royalties from sales. When James' initially signed with Nike, at least $90 million was guaranteed including a $10 million signing bonus.
As part of that first contract, sources said, there was a potential $5 million per year bonus if James played in New York, Chicago or Los Angeles in the first few years of the deal. That clause expired, however, several years ago.
It has been a theory that endorsement money would be one reason James would consider leaving Cleveland when he becomes a free agent this summer. With the Nike extension plus deals with Coke, State Farm and McDonald's, James will likely remain as the highest-earning current NBA player when it comes to endorsements.
The Nike Zoom LeBron VII, the most recent version of James' signature shoe, has been successful and is being worn by numerous college players as well as an increasing number of NBA players.
"I think my shoes have continued to get better over the years and a lot of players, a lot of teams and a lot of colleges want to wear my shoes," James said. "I appreciate that especially around March. The VII is the best we've had so far, until the VIIIs come out."
James, who will likely have a new personal Nike logo soon because the current one features No. 23 and he's changing to No. 6, implied his new deal will lead to double figure versions of his shoe.
"I'll have a [version] eigthI and a 12 and 13 or something like that," James said.
Z return on tap: Anticipated for weeks, Monday is the first day the Cavs can talk to Zydrunas Ilgauskas about re-signing with the team. Ilgauskas' agent, Herb Rudoy, told The Plain Dealer that he hopes to get a deal done quick enough that Ilgauskas can practice and then travel with the team to New Orleans on Tuesday.
Players are looking forward to Ilgauskas' return.
"He's a good friend of mine and he's a great teammate," James said. "Z's a veteran, his play will automatically guarantee him minutes because of how good he is, how tall he is and his shooting ability. Z doesn't have to worry about not coming in and not having a role."
Coach Mike Brown has stuck to the company line and declined to talk about Ilgauskas' return until it is official
