The week of May 19, 2003 is not one that high school basketball phenom Lebron
James will soon forget. He began by signing what is believed to be the largest
trading card and memorabilia deal for a rookie in sports history. Mr. James signed
a five-year contract with Upper Deck, one of the leading sports memorabilia companies
in the world,
for at least $1 million per year plus a $1 million signing bonus, according to
one source that had knowledge of the deal.
In that same week, according to ESPN, Mr. James inked a seven-year deal with Nike.
Sources said the deal was worth more than $90 million. The deal also includes
a $10 million signing bonus.
All of this has transpired before Mr. James has taken one jump shot against NBA
competition, without the need or desire to attend an institution of higher learning,
or even before actually signing with an NBA team (the draft isn’t until
June 26). But it has long been a foregone conclusion that he will be the first
player taken.
Here is where I feel compelled to console all those young men and women who toil
under the strain of working hard and playing by the rules.
To all of the college graduates, who toiled burning the midnight oil during finals
week, to those perspective law school grads who vowed to give their first born
for a B in contracts, and to those doctorial students who were secretly plotting
a coup de tat, if their oral
examination did not go according to plan; for all of you who find that the perspective
job market does not eagerly await your skill sets, I share with you the wise counsel
of my grandmother, “Favor aint fair!”
Regardless to how I may feel about President Bush’s policies, and those
feelings have been well documented in this column, I believe that being President
of United States is a far more complicated task than being the starting guard
for an NBA team. Mr. James’ memorabilia
agreement exceeds the compensation of President Clinton’s eight years in
office and the shoe deal with Nike exceeds the amount paid to the last nine presidents
combined. Hence, favor aint fair.
Is Lebron James worth that amount of money? Shouldn’t he go tocollege for
at least one year? Does he have the maturity for the daily grind of the NBA? These
questions miss the point?
Welcome to sports 21st century style, where the potential to be great is almost
on par with the performance itself. The Lebron James phenomenon is exceeded only
by that of golfing great Tiger Woods in terms of the type notoriety and money
received before successfully
competing. And it appears that such behavior will only exasperate in years to
come.
Reebok, who was outbid by Nike for Mr. James’ services, recently signed
a three year old to a shoe deal because he made 18 baskets in a row at day care.
What’s next? Selecting parents who can create the prototype athlete and
provide them with a shoe deal for conceiving? Didn’t Jimmy “The Greek”
get fired for such talk? Truly, we’ve come a
long way!
It would be nice if Mr. James reached the almost unattainable projections that
some have attached to his career, but it is not critical. Right now, it’s
Lebron James’ world, just for being Lebron James.
The rest of us will be privy to that world by way of front row seats, cable television,
or satellite dish. The more important question for those intimately concerned
is whether we the buying public will succumb to the myriad of Nike ads that will
be designed to tantalize
our buying emotions so that Nike can recoup the money invested in Mr. James’
seven year contract in the first year the shoes (which will undoubtedly bear his
name) go on the market.
My grandmother was right favor aint fair, but it sure can be lucrative.