LeBron's Business Model: Give Lots of Money to Your Homeboys

LeBron James's sports marketing firm, LRMR Marketing, today signed Ted Ginn Jr. to a five-year contract worth over $15 million. LRMR Marketing is a company composed of LeBron and his three childhood friends Richard Paul, Maverick Carter and Randy Mims (hence L.R.M.R.). Tedd Ginn Jr., drafted ninth in this year's NFL draft by the Miami Dolphins, also happens to be a long-time friend of LeBron and RMR. I have no problem with LeBron working on his business image. If he cares more about becoming a billionaire than becoming an NBA champion, that's his concern (forget becoming a global icon like Muhammad Ali, he made it pretty clear he doesn't care about that when he put his marketing deals in China ahead of supporting a way to curb the genocide in Darfur). But having your boys manage your business portfolio? You have to be Michael Jackson-level delusional to think the world works like an episode of Entourage. Of course LeBron is successful now; he's so hot, his image sells itself. But let's say in 10 years his career ends up more like Grant Hill's than Michael Jordan's. You think his hometown buddies can keep him in Nike commercials and hosting major awards shows? Or you think that $15 million they're giving an undersized, injury-prone wide receiver, in a league where quality receivers are a dime a dozen, will still be paying dividends? I admit, LeBron's got balls. He just doesn't seem like he's got brains to match right now.