LeBron signs lifetime pact with Nike

CLEVELAND – LeBron James has a contract with Nike that will last long after he hangs up his sneakers.

The NBA megastar has signed a lifetime endorsement deal with the athletic apparel giant, a deal which extends a partnership James began with Nike before he graduated from high school.

“I’m very humble, man,” James said Monday after practice with the Cleveland Cavaliers. “It’s been an unbelievable time for myself and my family, and I’m just grateful that Nike and Phil Knight, and everyone over there just believed in a skinny 18-year-old kid from Akron, Ohio, and I’m happy to be a part of such a great company.”

Financial terms of James’ deal were not disclosed. James signed a seven-year, $90 million contract with Nike shortly before he entered the draft in 2003, skipping college to be a pro.

James has had his own line of Nike shoes for years, and his new agreement could expand into his own brand.