This post may contain affiliate links. Please read our disclosure policy.
The Cold War: The Battle Between adidas and Nike
There was growing speculation that LeBron James was the consensous number one pick in the upcoming 2003 Draft. With his hometown area Cleveland Cavaliers holding the number one overall pick, this opportunity was golden for Madison Avenue and Northwestern sneaker companies vouching for the opportunity to have James as their leading man. With two proverbial giants in adidas and Nike coveting his services, the metaphorical “cold war” between adidas and Nike began.
With Sonny Vaccaro at the helm for adidas, he described within his Sole Man 30-for-30 documentary on ESPN in 2015 how adidas mismanaged James’ negotiations. Vacaaro would state, “I said LeBron and Gloria, when your son signs, he’s going to get a $100-million. It was a statement of fact and where their mind should be. I go to adidas and outline a plan – ‘We can get this kid.’ But the only thing I gave a damn about was $100-million dollars.”
Furthermore, Vaccaro would add: “I couldn’t believe what I looked at. The numbers changed; my numbers changed. I told Mr. James what his value is and then I’m going to give him a number that doesn’t even go on my appreciation of what his value is?! And I’m Sonny Vaccaro?! It was over, there was no way in hell they were going to sign.”
After that botched meeting, LeBron would ink a deal with Nike reportedly worth $90-million dollars canvassing over seven years, and subsequently becoming the largest sneaker contract ever handed out to a rookie in the NBA.
