Cleveland Cavaliers All-Star forward LeBron James hopes to one day truly have the world in his hands, as his management group aims for the James brand to go global. James, who already has deals with Coca-Cola and Nike, will unveil a deal with Microsoft and MSN this weekend. Associated Press Photo/Review-Journal Photo Illustration
Cleveland Cavaliers star LeBron James, splitting Miami Heat defenders to score during a 103-79 victory Feb. 9, has proceeded with caution in the endorsement world. But with the 2008 Olympics taking place in China, he's already looking to make inroads in that market by learning to speak Mandarin. Photo by The Associated Press
At the nexus of the universe, better known as Times Square in New York, there's a huge neon billboard.
But instead of shilling for a soft drink, a cigarette or a Broadway show, the sign promotes an athlete.
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Not just any athlete. For those who follow the NBA, and perhaps more important for those who don't, LeBron James is front and center when it comes to identification.
The Cleveland Cavaliers All-Star, all-everything forward is easily recognizable, in midtown Manhattan, downtown Cleveland or Hollywood. Thanks to his TV spots for Sprite and, more recently, Nike, the James brand has become part of American pop culture.
But for James and his management group, that's not good enough. His goal is to be global, and when the 2008 Olympics come around in August 2008, the plan is to have James presented as a worldwide icon.
According to Maverick Carter, James' childhood friend and chief executive officer of LRMR Marketing, the road to billionaire wealth and status is through Asia and the rest of the world.
"We're looking to make the LeBron brand as global as possible," Carter said. "His deals with Nike and Coca-Cola are with two brands that are very big globally, and that's what we're looking for when we do partnerships."
The latest partnership is with Microsoft. James and LRMR will announce this weekend a deal in which he'll be a spokesman for Microsoft and MSN, and he'll do other promotional activities with the computer software giant. Terms of the deal were not disclosed.
The business of LeBron James is, well, serious business. James is only 22, but his lofty aspiration for wealth has an unusual maturity about it. He doesn't have all the answers, so he seeks out those who do. Before the season, he had lunch with Warren Buffett, the venture capitalist who knows a thing or two about wealth.
Buffett's advice to the billionaire-in-waiting?
"He said to be patient and let the money grow," James said.
And so he does. Since leaving his agent, Aaron Goodwin, two years ago, James and his partners had not cut any new endorsement deals -- or, as they prefer to call them, "partnerships" -- until Microsoft. His Nike, Coca-Cola, Upper Deck trading cards and Bubblicious gum deals were made during Goodwin's tenure.
The management group, which includes Randy Mims and Rich Paul, has proceeded cautiously. In doing so, they've encountered criticism and ridicule in the media. They have been compared to the ensemble in the HBO TV show "Entourage," and their old nickname of "The Four Horsemen" -- which the quartet dubbed themselves as youngsters in Akron, Ohio -- is passe as far as they're concerned.
Carter shrugs off critics because he knows the reality with James.
"We're trying to stay true to LeBron," he said. "We're very cautious with who we deal with. We're not going to just slap a logo on anything. We're not looking for endorsements.
"The fact is, it's a lot of hard work trying to make sure we do the right thing. It's a lot more work than people know."
James said there's no need to rush into anything.
"It has to fit with who I am," he said. "I'm not going to endorse anything just to make a few dollars."
In the meantime, James is maximizing his relationships with his partners. Nike developed a series of funny and clever commercials featuring James.
"The LeBrons" shows James in various characters interacting. There's an ultra-hip businessman LeBron, an old-school LeBron, a kid LeBron and a superstar LeBron.
"Those commercials are basically an extension of who I am, being around friends, hanging out," James said. "The characters are guys I hang with on a daily basis. I came up with the concept, and Nike ran with it. I've got the kid in me, the old, the business LeBron and, of course, the athlete LeBron."
James enjoys the spots, including one in which he does a high dive into a swimming pool while in a business suit.
"They're hilarious," James said. "They're great. Nike is probably the best at putting things like that together."
There's also James' charitable efforts, particularly in Akron, Ohio. Through his James Family Foundation, he donated backpacks filled with school supplies to 1,000 children in Cleveland and Akron last August. His King For Kids Bike-a-Thon in Akron attracted 3,000 riders last June to raise money for various charities
Obviously, none of this would be possible had James not been an extraordinary basketball player. He was the leading vote-getter for the 2007 NBA All-Star Game, and much of that is due to James' worldwide recognition. He was able to overtake Yao Ming despite Yao having a couple of billion people to potentially draw votes from in his native China.
James is now gearing up to challenge Yao in Yao's homeland, taking lessons in Mandarin so he can do interviews at the Olympics with the Chinese media in their native language. It's all part of the master plan of making the LeBron brand global.
Meanwhile, James is doing his part on the basketball court. He has the Cavaliers in second place in the Central Division, behind Detroit. He is averaging 26.2 points, five points less than a year ago. But his rebounds (6.9) and assists (6.0) are on par with last year.
The bottom line is the Cavs are still winning, and he's deferring more to his teammates.
"It's all about team," James said. "I'm never about, 'If I'm not going well, it's not going right.' I don't care. I'll let my teammates go for it, and when they need me to step in there, that's when I'm there for them."
While money is important to James, winning supersedes wealth. He believes success cultivates wealth. But James was a rich man before he took a shot in the NBA, signing a $90 million deal with Nike.
Last summer, he decided to remain in Cleveland, signing a three-year, $60 million deal. Suffice to say, James is capable of living whatever lifestyle he chooses. But for he and his partners, it's about creating a legacy, one they hope will trump that of James' idol, Michael Jordan, someday.
That will take more work, because Jordan made between $500 million and $600 million from his endorsement deals. James and his partners would not reveal his worth from current deals, but they are reportedly about $250 million.
Of course, James is only in his fourth year in the NBA. That's why Carter said there's no need to rush.
"My goal for LeBron is to see him recognized as one of the best athletes in the world," he said. "When that happens, the big, big deals will follow."
So will technology. The Microsoft deal will only heighten his visibility worldwide. James has media tools available to him that Jordan didn't. The Internet. Web cams. Mobile phones. It enables James to build on his exposure and reach places such as China and India from a server in Ohio.
That's why it's possible James could be the first billion-dollar athlete in terms of business deals outside his sport.
If that happens, he can pick up the tab the next time he and Warren Buffett do lunch.