Basketballer signs historic lifetime deal with Nike

Nike just extended a massive contract to its marquee basketball athlete, LeBron James, by offering him a lifetime contract.

According to ESPN reporter Darren Rovell, James's deal is the biggest guarantee in Nike's history.

James has been a Nike athlete since his NBA career started in 2003, and this deal ensures that he'll be so even after his retirement.

Nike said:

"We can confirm that we have agreed to a lifetime relationship with LeBron that provides significant value to our business, brand and shareholders. We have already built a strong LeBron business over the past 12 years, and we see the potential for this to continue to grow throughout his playing career and beyond."

Although the exact figure paid remains unknown, it remains the only lifetime deal in Nike's 44-year history.

Speaking with reporters after Monday practise, Lebron said:

"I'm very humble, man. It's been an unbelievable time for myself and my family, and I'm just grateful that Nike and [Nike founder] Phil Knight and everyone over there just believed in a skinny-old, skinny 18-year-old kid from Akron, Ohio, and I'm happy to be a part of such a great company."