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EARLIER THIS MONTH LeBron James and Nike agreed to a lifetime deal, first reported by ESPN’s Darren Rovell.

The deal is the biggest commitment Nike has ever made to an athlete, and it’s a game-changer for athlete endorsements down the line.

While the terms of the deal haven’t been made public, if it’s going to last a lifetime, it obviously must be worth a tremendous amount of money.

Reporters connected to the situation have talked to people and there’s been some speculation on how much the deal is worth. It sounds like a monster.

If Amick’s numbers are accurate, that would put LeBron on pace to make $1 billion from the deal alone by the time he’s 64-years old. Considering he’s already made over $169 million in salaries and reportedly makes $44 million in endorsements per year, LeBron could end up the richest athlete of all time.

Of course, that $30 million per year figure could be off, and there’s a possibility that the annual value could fluctuate as he gets older.

Nonetheless, this is a huge bet by Nike. LeBron James is only 30, but he’s in his 13th season in the NBA. He’s on the back-half of his career, but Nike is betting that LeBron will stay relevant, even long after he’s done in the NBA.

- Scott Davis, Business Insider