LeBron James is set to be one of the big winners of the NBA playoffs.
The Cleveland Cavaliers star is set on signing a new contract worth $1.1 billion, according to multiple reports.
The deal will pay James the maximum salary of $95 million over five years, but he will receive $55 million more than the max if he signs a long-term deal with Nike, a source told ESPN.
The deal comes a day after James, who last played for Nike in 2016, announced his retirement from the NBA, citing health issues and a growing body of evidence that the brand was behind his decline in the popularity of basketball.
A source told the New York Post that James is now considering signing a deal with the footwear brand that is the subject of negotiations between Nike and LeBron’s representatives.
In addition to his endorsement deal with NBADraft.net, LeBron James will be signing a multi-year contract worth a combined $1 billion with Nike beginning next season, sources told ESPN’s Darren Rovell.
James and Nike will also be able to negotiate on his free agency, sources said.
Sources told ESPN that LeBron James has not decided on whether he will continue to play in the NBA after this season.
If he does, he will likely play for a different team.
Nike is known for its high-end footwear, including the Nike Zoom HyperAdaptive and Nike Zoom Air, which are often referred to as LeBron’s signature shoes.
ESPN’s Darren Rothstein contributed to this report.