LeBron James is one of the best players in the NBA and one of the most recognizable athletes in the world. LeBron is also an accomplished millennial entrepreneur.
LeBron represents himself in his business dealings. He does not use an agent in the same way as most other professional athletes. He was able to secure his own television show called “Survivors Remorse” on the Starz network with his friend and business partner Maverick Carter. He and Carter along with Randy Simms and Rich Paul formed their own sports marketing firm called LRMR. This allows LeBron to deal directly with the companies he does advertisements for and business with. He is able to negotiate for a financial stake in the companies he deals with instead of the usual salary. This has made LeBron James the fourth highest paid athlete in the world despite not having close to the highest salary in the NBA.
When LeBron first entered the NBA, he was represented in business by his agent Aaron Goodwin. After two years with Goodwin, LeBron decided to take more personal control over his business dealings. At twenty years old, LeBron James set up LRMR in 2006. He didn’t just want to be the professional athlete that appeared in apparel and car advertisements for a paycheck, but an athlete that creates on his own.
LRMR is based in LeBron’s hometown of Akron, Ohio and owns stake in Beats by Dr. Dre, Springhill Productions, and Liverpool Football Club. LRMR also does business with Dunkin Donuts, Champs Sports, Upper Deck, 2K Sports, Samsung, Miami Heat, and Fenway Sports Management. LRMR added Cleveland Brown’s rookie quarterback Johnny Manziel to the team. In the last year LeBron has led the NBA in jersey sales and Manziel has led the NFL. They are certainly doing a good job of marketing in the North East Ohio area and around the country.
LeBron has also created The LeBron James Family Foundation which helps children and families in the Akron and Cleveland area.
LeBron also attaches his image to a number of consumer products. He does advertisements for Kia, Beats by Dr. Dre, Nike, Progressive, and Audemars Piguet.
Lebron has a very unique story and even though most people dont think of him as an entrepreneur, he is a very good example of one.
I didn’t know that Lebron had become an Entrepreneur in such a big way. I think its awesome to see such a huge athlete taking control of himself on the business side of things and i think he has a great job at being an entrepreneur in his own right.