The soft drinks giant, Coca-Cola Company, has signed up the rookie National Basketball Association player, LeBron James, in a six-year sponsorship deal.
The teenage prodigy will endorse the Sprite and Powerade brands for the company. James is very new to the game but has already caused quite a stir. Earlier this year, he signed an endorsement deal worth around US$90m with NIKE.
The financial terms of the Coke deal were not disclosed but the soft drinks producer said it would involve “extensive marketing activities for both brands, including advertising, promotions, appearances and other initiatives.”
Previously, Coke had used the LA Lakers player, Kobe Bryant, who currently stands accused of rape, as a brand champion for Sprite and Powerade.
James was also reported to be in negotiations with PepsiCo regarding a similar endorsement deal for its energy drink brand, Gatorade, which outsells Powerade. But Pepsi reportedly withdrew from the negotiations having failed to agree on financial terms.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
