Master P And Former NBA Star Baron Davis Team Up To Buy Reebok
Master P is known for his sharp business mind. The OG proved that once again with the multiple successful moves he has made recently and the next one on the way. According to the latest reports, the Reebok company is going to be bought from Adidas by Master P and the former NBA star Baron Davis.
The negotiations are in progress and it is expected the deal to come to an end soon. If this becomes a fact, the two investors Master P and Davis may have to pay no less than $2.4 billion for the purchase.
Percy "Master P" Miller confirms to ESPN that he's in negotiations to acquire Reebok with ex-NBA guard Baron Davis.
"These companies have been benefiting off us, this could be history for this company going Black-owned," Miller tells ESPN.
— Eric Woodyard (@E_Woodyard) December 28, 2020
According to Forbes, Reebok's asking price from it's parent company Adidas is around $2.4 billion. Master P says they're "prepared financially" after a couple months of negotiations.
Miller: "Imagine if Michael Jordan owned Reebok? That's what I'm talking about making history."
— Eric Woodyard (@E_Woodyard) December 28, 2020
In an interview with ESPN, Master P said that this move may become part of history, due to the fact that these sports brands have received benefits from the African-American stars for many years. And as he claimed if the deal goes well, the Reebok company will be one hundred percent black-owned business.
The co-operation of the hip-hop stars with famous sports brands is not a new trend. Back in 2003 Reebok got a common project with no one else but Jay-Z himself. Mr. Carter created his own line for sneakers, which expectedly met e huge success. The increase in the incomes of Reebok was estimated to seventeen percent in the next year.
Now again the company is hoping for the help of the former New York Knicks player and the No Limit Records’ boss. Since the beginning of the pandemic, Reebok’s sales have gone down by 44 percent. On the other hand, Adidas is not suffering the bad influence from the Covid -19 at all. That is why the idea for the sale of Reebok got on the table and is going on its last stage.
The previous purchase of the brand was made in the best of its years as we mentioned, just after the deal with Jay. In 2005 Adidas decided it worth the chance and is going to face bigger success in the future. And it was good several times, but now Reebok again is in a position to need help and obviously, Master P and Davis are having some bright ideas about that.
It is not quite clear when exactly will be the date of the deal, but as it is obvious it may happen any day now. Probably the owner change may become a fact in the last days of 2020.
