Allen Iverson was recently named the Vice President of Basketball at Reebok, working alongside the President of Basketball, Shaquille O’Neal. Iverson and Shaq discussed the new role at Reebok, with AI revealing that his appointment has led to people constantly asking him for shoes or a job.
(Starts at 31:54)
“But big bro, by you doing that got me more problems. I’m telling you. Everybody and their mom… Hook my team up man. And give me a spot at Reebok man. Give me a job. I’m like, ‘Listen man, lemme see a resume or something man.’ You know what I’m saying? I’m talking about damn near every day for the first month that I got that job, I had to deal with that.”
Shaq and Iverson will both be integral to Reebok’s plans of expanding into the competitive basketball ecosystem.
Iverson is one of the defining cultural figures of NBA history and will reportedly drive player recruitment, grassroots and community-based initiatives, and athlete activations like the Iverson Classic in his new role. He has been a long-term signature athlete for the brand and will hopefully play a key role in its future.
Shaq will be serving as the President of Basketball at Reebok, the company with whom he signed his first sneaker contract ahead of his rookie season in 1992. He is expected to lead Reebok’s basketball strategy and ‘cultivate partnerships’ with teams and athletes. Reebok hopes it helps the brand pick up relevance in the sport, as well as new brand deals with current players.
He’s already been at work, recently trying to recruit Devin Booker to join Reebok.
Allen Iverson Signed A Lifetime Contract With Reebok In 2001
Iverson’s appointment to an executive position at Reebok is wonderful to see given the loyalty both brand and player have shown to each other. In the middle of Iverson’s prime, he was arguably one of the most famous athletes in the world and a fashion icon who was starting trends we see to this date.
Reebok and Iverson agreed to a lifetime deal in 2001, becoming the only NBA player to sign a deal of that kind with Reebok. Even Shaq turned a deal from Reebok down at a point, but Iverson has been loyal throughout. The terms of his lifetime contract are fascinating, as it guaranteed Iverson a source of income even after his career was over.
Rather than agree on an outrageously large yearly sum for a short time, Iverson receives $800,000 every year. Reebok has already paid Iverson over $17 million since 2001 as a result. The best part of the deal is that Iverson is entitled to $32 million when he turns 55 in 2030. The money has been saved in a trust fund for him by Reebok.
It’s unclear if Iverson is entitled to more money or a separate contract as part of his new position at Reebok. Regardless, this is one of the best examples of a fantastic player-brand relationship outside the Nike umbrella. Nowadays we see this with many brands like Stephen Curry with Under Armour and Kawhi Leonard with New Balance, but Iverson with Reebok was the birth of all that.
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