Popular shoe and apparel brand Reebok might soon be under some new, well-known ownership.
Rapper Percy “Master P” Miller told Eric Woodyard of ESPN on Monday that he is in negotiations along with retired NBA guard Baron Davis to acquire Reebok. The two would make the purchase through a SPAC (special purpose acquisition company) called Bull Horn Holdings Corp. (ticker symbol: BHSE). Woodyard adds that Reebok’s asking price from parent company Adidas is roughly $2.4 billion. Miller says they are “prepared financially” after a couple of months of negotiations.
“These companies have been benefiting off us,” Miller said. “This could be history for this company going Black-owned. … Imagine if Michael Jordan owned Reebok? That’s what I’m talking about making history.”
Some folks on Twitter had funny reactions to the news:
Others were very supportive of the effort:
Davis played 12 seasons in the NBA and was a two-time All-Star. Miller, who is a record label founder and an actor in addition to his rap career, actually made the NBA as well, believe it or not. He got preseason contracts from the Charlotte Hornets in 1998 and then the Toronto Raptors in 1999.
The Jordan name-drop is pretty funny when you consider how much His Airness dislikes the Reebok brand. But in any case, Davis and Miller could be pulling off a real power move here with this potential acquisition.
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