LeBron James is now the new face of Pepsi after parting ways from his long-time endorsement with Coca-Cola Co.
LeBron James Will Endorse Pepsi
The Front Office Sports was the first to report that the 36-year-old long-time endorser will now be the facade of Mountain Dews' nearing "Rise Energy" line.
Upon switching to Pepsi, LeBron became one of many NBA and WNBA players who are endorsers of the "MTN DEW," including Jamal Murray of the Denver Nuggets, Zion Williamson of the New Orleans Pelicans, Joel Embiid of the Philadelphia 76ers, and WNBA star A'ja Wilson of the Las Vegas Aces.
Since coming to the NBA in 2003 as a rookie, LeBron has been involved in some commercials of Sprite and Powerade, sponsored by the Coca-Cola company.
In addition, the 36-year-old could also close a deal with his partially-owned Blaze Pizza, which presents Coke products in more than 300 stalls in the country. Front Office Sports asked the representatives of Pepsi Company and LeBron about the pending deal, but none have responded to their query.
In a report by the Lakers Daily, LeBron's engagement with Coca-Cola was cut in September, where the 16-time All-Star will make vast sponsorship switch since he was 18 years old.
"LeBron's contract came up at a time when both he and The Coca-Cola Company were actively reviewing all of its resources to make sure it was investing in places that ensured long-term growth. After many discussions with LeBron and his team, we mutually agreed to part ways, " a spokesperson from Coca-Cola said.
When it comes to his business portfolio, his endorsement is only a speck of his several investments.
Cole McCauley of Clutch Points revealed that LeBron has pocketed a total earning of over $200 million throughout his 17 years in the NBA. The Akron-native has still a lot of money-generating businesses besides endorsements, making him one of the richest athletes in the world.
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James is not only good inside the court, but also in handling his finances. In 2015, LeBron signed a lifetime agreement with Nike worth $1 billion. For his partially-owned Blaze Pizza, 14 franchises were funded by him.
He also owned SpringHill Entertainment, a production company whom he shared with co-founder Maverick Carter. All in all, LeBron has been acquiring an estimated annual earning of $53 million which only came from his endorsements.
Among some of his company endorsements besides the beverage companies, are McDonald's, 2k Sports, and Beats by Dr. Dre, wherein he has company shares, as well as in European football club Liverpool F.C.
A few years back, James hit free- agency and numerous rumors indicated that the 2003 No. 1 overall pick craved for acting. However, they turn out to be untrue, only to find out that LeBron only kept himself focused on winning NBA titles while doing left-and-right endorsements for different brands.
In December, LeBron agreed to Laker's $85 million contract extension for two years. The extension will mark his $420 million NBA earning for his whole professional basketball career when the NBA Season 2022-2023 ends.
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