22-03-2010

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Unofficial Sources: LeBron James and Nike are Back in Business »

LeBron James has one major free agent decision nearly settled. James hinted on Sunday that he was close to agreeing to a long-term extension with Nike to continue to be one of their top pitchmen. James’ original seven-year contract that paid him in excess of $100 million with bonuses is set to expire in a couple of months. “I don’t plan on going anywhere, maybe I already have a agreement,” James said perhaps not wanting to take away from a formal announcement. “I take care of my business on and off the court.” Last year, James signed an extension with Coca-Cola when a six-year deal he signed when he was 18 expired. Coke — which has used him to pitch Sprite, Powerade and now Vitamin Water — and Nike continue to be his longest-running business partners. It isn’t clear just how much James’ new Nike deal may be worth. The numbers can always been inflated to assume certain incentives and royalties from sales. When James’ initially signed with Nike, at least $90 million was guaranteed including a $10 million signing bonus. LeBron, who will likely have a new personal Nike logo soon because the current one features No. 23 and he’s changing to No. 6, implied his new deal will lead to double figure versions of his shoe. Click here for the full article.