Michael Jordan accomplished a lot of things on the basketball court. But one of his most effective legacies came through his feet. Jordan marked the beginning of a new era of sneakers. Jordan, after entering the league, made his favorite player much cooler to wear the same shoes.
And the shoe industry continues to develop, with many companies becoming multi-billion dollar units. One of those companies is Reebok – and may have a new ownership group to acquire it.
ESPN Correspondent Eric Woodyard shared That rap Mogul Percy “Master P” Miller and former NBA guard Baron Davis are currently in talks to buy Reebok. The company is currently owned by Adidas, which is seeking $ 2.4 billion to sell it.
“These companies have benefited us,” Master P told ESPN. “This may be history for this Black-owned company.”
Master P is the founder of the rap record label No Limit Records, one of the most well-known labels in the industry. Davis is a two-time All-Star and one-time All-NBA player who spent 13 years in the NBA. He began wearing Reebok in college at UCLA and rocked shoes (among other brands) throughout his career.
“The Crown is probably the most elite athlete wearing Reebok to give Allen Iverson and his righteous icon status,” Master P said. “Alan Iverson is Jordan for Reebok. Nobody gave him royalty or ownership as an icon for the brand.”
This is not Master P’s first entry into footwear. He composed about 20 years ago P miller jump-offs Performance basketball shoes, and in 2019, he launched the luxury sneaker label MoneYatti.
Adidas acquired Reebok in 2005 for $ 3.8 billion. The parent company announced last month that it was exploring a “strategic alternative” to Reebok. Any sales losses will be likely; new York Times Company estimates In November 2020 there was a value of $ 1 billion.
Both said they were able to pay the money, although it is unclear if they would involve other investors in any deal. Either way, if things fall into place, they can change the sneaker game for athletes and fans alike.