How Nike Lost Allen Iverson And Reebok Set Him Up For Life
· Yahoo Sports
Allen Iverson could have been a Nike athlete, but signing with Reebok set him up for life.
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Born in Hampton, VA, Iverson was drafted into the NBA in 1996 as the No. 1 overall pick by the Philadelphia 76ers, according to Basketball Reference. He remained in the league for 14 seasons and is regarded as one of the league’s best, per the NBA. In fact, he was part of the NBA 75th anniversary, which recognized the top 75 players in the league’s history, the outlet noted. He joined a class that includes former players Michael Jordan, Wilt Chamberlain, Tim Duncan, and the late Kobe Bryant, as well as active players such as LeBron James, Kevin Durant, Anthony Davis, and more.
Iverson made $171.7 million in career earnings while in the league, according to Spotrac. However, he blew through even more than his career earnings, as AFROTECH previously told you, but he is still standing today as a result of strategic moves that include entering the cannabis world in partnership with Black-owned Viola Brands. He also has real estate investments. He was approved for a 120-unit affordable housing project called “Iverson Landing,” which will be located in his hometown of Newport News, VA.
What’s more, Reebok plays a pivot role in Iverson’s business portfolio. He signed a 10-year deal with the company in 1996 that was valued at $50 million, ESPN reports. In 2001, he signed a lifetime deal that pays him $800,000 annually.
Iverson’s long-term partnership with Reebok came after he was widely projected as a potential Nike athlete following his collegiate career at Georgetown University.
Iverson could have taken a different route, nearly becoming a Nike athlete after playing college basketball at Georgetown University, according to the “All The Smoke” podcast.
Howard H White, senior vice president of Jordan Brand, shared on the podcast that he formed a connection with Iverson’s guidance counselor, who he had also gone to school with, as well as Iverson’s mother, Ann. When he heard that Iverson was leaving school to prepare for the draft in 1996, he contacted Nike co-founder Phil Knight to “sign him now,” White told “All The Smoke.”
Reebok had also shown interest in Iverson and offered Iverson marketing money, which gave the company an edge, according to White.
“Reebok had got in ‘We want to give you on top of that, this marketing money. So when you do marketing, you already got the money. We already put it there.’ So that kinda drove it up pretty high. Now we probably could have changed it around, but that’s like more than MJ [Michael Jordan] was making,” White, a Hampton, VA, native, said on the podcast.
“I said, ‘There is no way on any planet I’m doing that.’ And I remember he asked his mother, ‘What about H?’ She said, ‘Well we gon go for the money.’ And I love him. Even when we see each other today. That’s my guy. And I think — this is just being selfish — I think if Bubba [Iverson] had been one of my guys, I think it would have really helped him in a lot of ways,” he continued.
It all worked out for Iverson nonetheless, whose lifetime deal is also tied to a $32 million payday, which he will be eligible to receive on his 55th birthday in 2030.
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The post How Nike Lost Allen Iverson And Reebok Set Him Up For Life appeared first on AfroTech.
The post How Nike Lost Allen Iverson And Reebok Set Him Up For Life appeared first on AfroTech.