LeBron James signs lifetime deal with Nike

Posted at 3:13 PM, Dec 07, 2015
and last updated 2015-12-07 18:13:23-05

CLEVELAND -- LeBron James has signed a lifetime contract with Nike.

James has been partnered with the athletic apparel giant since he signed a $90 million contract just before he graduated high school. The NBA star's new deal will carry into his retirement once he's done playing.

Financial terms were not disclosed. The company signed Oklahoma City's Kevin Durant to a 10-year, $300 million contract last summer.

James has a shoe and clothing line with Nike, and his new agreement will expand his brand.

While still playing, James has broadened his business portfolio in recent years. In addition to a production company, he earned $30 million last year when his stakes in headphone maker Beats by Dre were purchased by Apple.

James turns 31 on Dec. 30.