LeBron James just made 30 million dollars

[J Shuttlesworth]

http://9to5mac.com/2014/06/11/nba-su...tion-of-beats/


Pic needs his troll face btw

Even though his team is down a game in the NBA Championship series against the San Antonio Spurs, athlete LeBron James does have something new to smile about. As part of Apple’s $3 billion acquisition of Beats Electronics and Beats Music, James is due to net a profit of $30 million:


In a recent example, while James was leading the Heat to a victory over the Indiana Pacers in the Eastern Conference finals, sources say the 29-year-old was finalizing what is believed to be the biggest equity cash payout for a professional athlete in history as part of Apple’s recent $3 billion purchase of Beats Electronics. Sources briefed on the situation say James realized a profit of more than $30 million in cash and stock in the Beats sale after he had struck a deal to get a small stake in the company at its inception in 2008 in exchange for promoting its high-end headphones.

This $30 million comes from James’ stake in Beats, which he acquired in 2008 as part of him promoting the Beats line of headphones (as seen in the above image with Dr. Dre). Today’s report comes in light of the Miami Heat seeking to add superstar Carmelo Anthony to its roster during this upcoming NBA offseason. As part of signing Anthony, James would need to take a salary cut, and James is looking at new off-the-court business initiatives (like the Apple/Beats deal) to make up for that lost income.

According to ESPN, this payout results in the biggest payout of its kind for an athlete.

It is unclear if James will continue to work with Beats following the closing of the Apple acquisition. James is well-known to be the top spokesperson for Apple’s main rival, Samsung. This is not Apple’s first connection to a top NBA player. A couple of weeks ago, we broke the news about a meeting between LA Lakers guard Kobe Bryant and Apple design chief Jony Ive at Apple’s Cupertino campus. It is unclear what the Bryant/Ive meeting was in regard to, but we speculate that perhaps Apple is lining up some sports sponsorship partnerships for its upcoming push into the health and fitness arena.

Apple announced its plan to acquire Beats by Dre and Beats Music and bring both Dr. Dre and Jimmy Iovine into the Apple fold in May. The acquisition is expected to close in Q4 2014, and Apple has already promoted Dr. Dre via a phone call demo at its recent Worldwide Developers Conference and Iovine alongside services chief Eddy Cue at the recent Code Conference in Los Angeles. Apple (and James) also recently joined Beats in last week’s World Cup ad.

[DonDadda59]

Now we know why he's willing to take a paycut to upgrade the Justice League with Melo

[dubeta]

The problem is that LeBron's deal with Beats ties him with Apple.

But Lebron also is endorsed by Samsung

But Samsung and Apple are rivals for each other

So whats gonna happen?

He cant do a beats commercial one day, and then a samsung galaxy commercial the next.

[imdaman99]

Why do we care?

Why are you branstans obsessed with him selling his soul for another buck off the courts?

Lord knows you won't see any of that money.

Didn't read.

[J Shuttlesworth]

The problem is that LeBron's deal with Beats ties him with Apple.

But Lebron also is endorsed by Samsung

But Samsung and Apple are rivals for each other

So whats gonna happen?

He cant do a beats commercial one day, and then a samsung galaxy commercial the next.

Good point. That could be part of the reason why he sold his share.

Also weird that I just updated my Samsung GS4 to Android KitKat, and the upgrade came with an app called "BeatsByDre"

[Nuff Said]

The problem is that LeBron's deal with Beats ties him with Apple.

But Lebron also is endorsed by Samsung

But Samsung and Apple are rivals for each other

So whats gonna happen?

He cant do a beats commercial one day, and then a samsung galaxy commercial the next.

Wanna bet?

[kamil]

Sources briefed on the situation say James realized a profit of more than $30 million in cash and stock in the Beats sale after he had struck a deal to get a small stake in the company at its inception in 2008 in exchange for promoting its high-end headphones.

That's a lie. Beats headphones produce shit sound, especially at $300 fvcking dollars.

[RedBlackAttack]

Now we know why he's willing to take a paycut to upgrade the Justice League with Melo

2003 draft class has no competitive spirit. J/S

[The Repo Man]

I said it before, I'll say it again. All it takes is taking one of the first two games on the road and you take all the momentum back to your home town. GO HEAT

GOOD WIN BOYS

[Random_Guy]

being real for a sec, beats suck....
and any ishers looking to blow top dollar on headphones are welcome to ask me

[Smook A.]

[kamil]

being real for a sec, beats suck....
and any ishers looking to blow top dollar on headphones are welcome to ask me

IMO, best bang for the buck are the Denon AH-D1100 headphones

[Random_Guy]

IMO, best bang for the buck are the Denon AH-D1100 headphones

but imo the best denon for the money is the d2000(although it has been discontinued)

[ProfessorMurder]

He cant do a beats commercial one day, and then a samsung galaxy commercial the next.

Sell the 30 million in stock and continue getting paid by Samsung. It's not rocket science... Plus we don't know contract stipulations about endorsing a product prior to a buyout.

[TheMilkyBarKid]