Back in 2008, basketball star LeBron James received a small stake in Beats Electronics in exchange for promoting the company’s headphones. Now that Apple has bought Beats, guess how much James is set to make? You really don’t want to know, but watch our news wrap anyway. The rest of it, including updates on split-screen iPad multitasking and the future of the iPhone 5c. will cheer you up.
NBA superstar (and Samsung shill) LeBron James reportedly made some serious bank as a result of Apple’s $3bn Beats acquisition in May — ranking as the largest equity cash payout for a professional athlete in history.
Citing sources close to the issue, ESPN claims that James struck a deal to promote Beats headphones back in 2008, in exchange for a minority interest in the then-new company. Although it’s not known exactly how many shares he owned (Beats has always framed it as a “business relationship” without giving further details), it was enough to earn him a whopping $30 million in both cash and stock when the Beats deal was finally done.
Samsung has struck a $100 million deal with the NBA that will see its tablets and televisions used courtside during games. The deal is seen as a strategic move that could expand the global reach of both parties, shoving Samsung’s logo and devices into the faces of NBA fans, and putting NBA content into the hands of Samsung’s customers.