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LeBron says he isn't worried about losing endorsements
By Bob Bensch
and Scott Soshnick
Bloomberg News
Published on Thursday, Nov 27, 2008
LeBron James says the global economic slowdown won't hamper his endorsement contracts.
The subject came up after pro golfer Tiger Woods parted company with General Motors Corp. this week.
James, 23, works with a number of companies, including Nike Inc. and Coca-Cola Co.
Woods and GM agreed to end their contract a year early as plummeting sales spur cost cuts at the automaker.
''With the economy going down, I know I have great relationships with the partners that I have,'' James told reporters before the Cavaliers won Tuesday night over the New York Knicks at Madison Square Garden.
''All of them are long-term deals. I can only comment on what I have and looking forward.''
James and software giant Microsoft have ended a two-year marketing partnership. James' spokesman, Keith Estabrook, confirmed Wednesday that the contract is not being renewed.
James appeared in TV ads for Microsoft's launch of its Windows Vista operating system in early 2007, but aside from the commercials and the Web site, no other marketing efforts developed.
James signed a seven-year, $90 million contract with Nike before entering the NBA. He was the top pick in the 2003 draft after graduating from St. Vincent-St. Mary High School and drew comparisons to former NBA star Michael Jordan, both on the court and in the endorsement world.
''There's always deals out there,'' said James, who won a gold medal as part of the U.S. national basketball team at the 2008 Beijing Olympics in August.
Fans outside Madison Square Garden were given free hot dogs courtesy of Nike and James. The vendors working the cart were wearing T-shirts emblazoned with ''Witness,'' which is part of a James-related marketing campaign established by Nike.
LeBron James says the global economic slowdown won't hamper his endorsement contracts.
Get the full article here.
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