LeBron James confirms signing up with PepsiCo, ends 17-year-old deal with Coca-Cola

In January, there were reports hinting at a new LeBron James Pepsico deal, which meant an end for his 17-year partnership with Coca-Cola. Now, reports state that the deal has been finalized as of Wednesday (Thursday IST). James' deal with Pepsi spans over multiple years and will have the four-time NBA champion endorse their new MTN DEW RISE energy drink. 

LeBron James Pepsico deal: Why did LeBron James leave Coca-Cola for Pepsi?

While James' deal with Pepsi might have been finalized this year, his partnership with Coca-Cola reportedly came to an end last year itself. The answer to the 'Why did LeBron James leave Coca-Cola?' query lies within the fact that both the parties were unhappy when it comes to their strategies for long-term growth of product lines across the company. According to Front Office Sports, PepsiCo denied them specifics of the "multiyear partnership" with James, which will eventually move to other categories like snacks. 

MTN DEW RISE, the drink James will focus on, will also be endorsed by other athletes and "wellness influencers". Reports add that PepsiCo will also host virtual workouts at the South by Southwest festival. After some time, the Los Angeles Lakers icon might also end up endorsing Pepsi's flagship cola brand. 

“When I first learned about the message behind the drink — the fact that every day is a chance to rise for all of us — that really resonated with me,” James said while speaking about the new deal. 

PepsiCo’s CMO and SVP of Energy, Fabiola Torres, also spoke about James' involvement with the brand. "LeBron is the epitome of motivation and has achieved legendary status by seizing every morning. He not only continues to excel on and off the court but has dedicated his life to help others rise as well". 

This new deal might also affect James' Blaze Pizza chain, where the basketball star has around a 10% stake (Chicago and South Florida). Soon, Blaze Pizza might end up selling and promoting Pepsi products at their locations. 

The drink that James will endorse will be available in 16 oz cans, coming in six unique favours – Pomegranate Blue Burst, Orange Breeze, Strawberry Melon Spark, Tropical Sunrise, Berry Blitz, and Peach Mango Dawn. 

LeBron James net worth

As per Celebrity Net Worth, LeBron James is worth $500 million. While James will earn $428 million by 2023 from the NBA, his endorsements and Nike deal make up a significant chunk of his money. In 2015, he signed a lifetime deal with Nike, which could end up being worth $1 billion. He also has endorsement deals with companies like Baskin Robbins, Samsung, McDonald's, Microsoft and more. 

Recently, James also acquired stake in the Fenway Sports Group along with his longtime business partner Maverick Carter. 

LeBron James sponsors and endorsements

One of the richest athletes in the world, the LeBron James sponsors portfolio is impressive. Along with his Nike deal (and Coca-Cola), James endorses Beats By Dre, 2K Sports and Blaze Pizza. He also has his own production company (SpringHill Entertainment) and media company (Uninterrupted). He makes approximately $50 million from endorsements – a number expected with this new PepsiCo deal.

Disclaimer: The above information about LeBron James net worth is sourced from various websites and media reports. The website does not guarantee a 100% accuracy of the figures.

(Image credits: LeBron James, Pepsi Instagram)