LeBron James’ entertainment company, SpringHill, is in early talks with Nike and other bidders about a sale, according to a report.
Formed by the 36-year-old NBA star and his longtime business partner Maverick Carter, SpringHill is in “early stage” discussions, Bloomberg News reported.
Talks between suitors and SpringHill, which is behind the upcoming Warner Bros. flick “Space Jam: A New Legacy” and HBO’s “The Shop:Uninterrupted,” could result in a sale or an investment, according to The Information, which recently put the firm’s valuation at as much as $750 million.
The uptick in deal talks in the media space comes at a time when streaming services are clamoring to acquire more content in the face of rising demand for programming.
SpringHill was founded last year by the Los Angeles Lakers superstar and Carter, who raised $100 million for the firm. The company includes marketing agency Robot Co. and entertainment firms SpringHill Entertainment and Uninterrupted.
Uninterrupted, a production and marketing business, has previously worked with Nike in a collaboration for Uninterrupted-branded Air Force 1 sneakers and a new apparel collection.
James, too, is of course a longtime parter of Nike. At 18, he signed a seven-year $90 million endorsement deal with the brand, making him the highest-paid player in the NBA. In 2016, James inked a “lifetime” contract with Nike whose terms weren’t disclosed.
Nike did not immediately return requests for comment.