$500 Million Shoe Deal For Lebron James

NBA star Lebron James looks set to be richer by half a billion. The Cleveland Cavaliers forward has a 10 years offer from American discount footwear retailer , which would earn the American star $50M annually

The company which rakes in over $3Bn dollars yearly also offered 29 year-old James a large portion of the company's stake

Payless has been in existence since 1956 with over 13,500 employees, they want Lebron James to help revive their sports line Pro Wings; an affordable sneaker line created by , which reached its height in the early 90's

Speaking about the deal, Payless spokesperson, James Weilen said, the deal was inspired by Kevin Durant's$285 million deal with ., an American sports clothing and accessories company.

James Weilen said.

Lebron though has a running contract with Sportswear company, Nike, but he could forfeit that with a clause which states that he could opt out anytime he wanted.