Why Did LeBron James Pass on $10M From Reebok?

The story of LeBron James walking away from $10 million as a high school senior and ending up with a billion-dollar lifetime deal has become one of the defining decisions in sports business history, as the star hooper recently recalled the moment when he turned down a check that would have bought the building he and his mother lived in.

Looking back at the pivotal moment during an appearance on the New Heights podcast, James let the hosts in on how 3 companies were vying for his signature during his senior year.

“I took on three pitches. I did an Adidas pitch. I did a Reebok pitch. I did a Nike pitch. The best pitch that I got where I thought I was going to end up was actually Reebok at one point,” LeBron James said. “I went to their meeting. The guy slides a check to me. And he says, ‘If you don’t go talk to any other companies, this is yours.’ And I look at it. $10 million. Just right there as an 18-year-old.”

He continued, “I told him I need a break. They stepped out. I sat there. My mom looked at it and looked at me. She said, ‘Son, trust your gut. If they’re offering you this, then who knows what the other companies may offer you?’ So they came back in. I said, ‘Thank you. I will definitely like to continue our conversation, but I would be remiss if I did not take those other pitches from the other companies.’”