LeBron James spoke out stridently against Rockets GM Daryl Morey on Monday night, calling his tweet in support of Hong Kong’s pro-democracy demonstrations, potentially financially harmful.
However, James may not have been just been concerned about the NBA losing money, he may have been thinking about himself.
Fox Business examined LeBron’s financial dealings and interests with China, and found that the NBA superstar has both merchandising and entertainment ventures that could suffer serious consequences from a prolonged rift with the communist nation.
According to Fox Business:
[LeBron] holds a lifetime deal valued at $1 billion with sports retail giant Nike, which saw its sales in China surge 27 percent to nearly $1.7 billion in its most recent fiscal quarter alone. James’ signature sneaker line is one of Nike’s most prominent offerings.
James’ standing in China could also impact the future efforts of his media production company, SpringHill Entertainment. The firm is producing “Space Jam 2,” the highly anticipated sequel to NBA legend Michael Jordan’s original film, which will seek a massive return from Chinese audiences.
While it may seem incredible that an athlete would have such a strong financial interest in a country, the reality of the situation becomes more clear when viewing it through the prism of Nike itself. According to Fox Business, “Nike earned more than $6 billion in revenue from China during its 2019 fiscal year.” – READ MORE