Today in 2003, James refused to sign a contract with Nike for 7 years of 87 million

May 23rd News Today, media complexsports posted photos to review today in NBA history.

Today in 2003, LeBron James officially signed a seven-year, $87 million contract with Nike, which was the largest sneaker contract in the history of rookie players at that time. In the draft draw a day later, the Cleveland Cavaliers drew the No. 1 pick and selected James with the first pick in the draft more than a month later.

As a phenomenal talented high school player, James rejected the offer from Reebok and Adidas before the draft, with Reebok's offer being said to be about $115 million, while Adidas' offer being about $60 million. During his meeting with Reebok, the brand offered James a $10 million check on the spot on the condition that he no longer had contact with other brands.

Since 2003, James and Nike have launched a new signature sneaker every year. Now in 2025, they have launched the LeBron 22 generation. On December 7, 2015, LeBron James signed a lifetime contract with Nike. This is the first time that Nike has signed a lifetime contract with athletes and sets a precedent for Kevin Durant’s similar agreement with Nike and Stephen Curry and Under Armour. In October 2021, LeBron James owned a building named after him at Nike's global headquarters in Beaverton, Oregon. The 750,000-square-foot space houses the latest version of the Nike Sports Research Laboratory, which covers an area of ​​85,000 square feet, where the brand collects athlete data for product design.