A report on Wednesday claims Basketball star and Samsung pitchman LeBron James made a sweet $30 million payday from his small piece of Beats Electronics when Apple grabbed up the headphone manufacturer for $3 billion back in May.
Citing sources familiar with the matter, ESPN claims James struck a deal in 2008 to promote Beats’ headphones in exchange for a small interest in the then-fledgling company. While the exact details are unknown, James’ share of the firm netted him over $30 million in cash and stock when Apple purchased Beats Electronics and Beats Music for $3 billion last month.
The approximately $30 million sum is thought to be the largest equity cash profit ever for a pro athlete.
Beats issued a statement last week, saying they plan on using James in future ads, despite his ties with Apple’s arch-rival Samsung. However, Apple has not as yet made known their opinion on that decision. The NBA star has been featured in a number of ads for Samsung’s mobile devices.
James did make an appearance in Beats’ World Cup ad, which featured Brazilian soccer star Neymar da Silva Santos, Jr. The commercial was one of the first to air after the Apple acquisition of Beats, and showed the company’s headphones being used exclusively with Apple’s iOS devices.
James can take financial comfort in the $30 million he received as part of the Apple buy of Beats, as it is expected he’ll soon be taking a salary cut as part of an attempt by the Miami Heat to add New York Knicks player Carmelo Anthony to an already strong Heat team.
