Master P and ex-NBA All-Star Baron Davis are in talks to purchase Reebok from parent company Adidas for $2.4 billion.
Adidas ready to part ways with struggling Reebok brand
Adidas bought Reebok in 2005 for $3.8 billion, and are currently open to selling. Reports emerged Monday that a rap mogul and former NBA star were interested in purchasing. Master P whose real name is Percy Miller said the purchase would be ‘history’ if Reebok were to become ‘black-owned’. Miller is a rapper, actor, producer, and serial entrepreneur whose net worth is estimated at $200 million.
Baron Davis, a former professional basketball player who played in the NBA league for 15 seasons with multiple teams. Davis works as a studio analyst for Turner Network Television. Following retirement, Davis tapped into the film and television industry and also started his own business selling apparel.
‘These companies have been benefiting off us, this could be history for this company going black-owned,’ Master P expressed to ESPN reporter Eric Woodyard. Woodyard tweeted about the prospective deal on Twitter on Monday.
According to Forbes, Reebok's asking price from it's parent company Adidas is around $2.4 billion. Master P says they're "prepared financially" after a couple months of negotiations.
Miller: "Imagine if Michael Jordan owned Reebok? That's what I'm talking about making history."
— Eric Woodyard (@E_Woodyard) December 28, 2020
‘Imagine if Michael Jordan owned Reebok? That’s what I’m talking about making history,’ he said.
‘As we focus on turning Reebok into a lifestyle brand not just a basketball brand, our most important initiative will be to put money back into the community that built this company.’
‘I think Reebok is being undervalued,’ Davis explained to Forbes.
‘I left Nike as a 22-year-old kid representing myself and made the jump to Reebok, which took a chance on me as a creative and as an athlete.
‘I want the people I know athletes, influencers, designers, celebs to sit at the table with me.’
Fans seemed to have already made up their mind to support the brand…
Man if Master P actually succeeds in purchasing Reebok, just know I'm pulling them Reebok classics out the back of the closet. Might buy me some more Iversons too…
— Biggie Longs (@ShawnTheDon8) December 29, 2020
If master P buys reebok imma be posted with reebok on outside like.. pic.twitter.com/8Whs5Od3gU
— lamar (@kybrian24) December 29, 2020
If Master P buying Reebok. Guess who wearing Reebok pic.twitter.com/JETWMC2XQQ
— RR 👑🏡 (@RRgrindhard) December 29, 2020
Can the worldwide brand be reimagined?
Reebok is a worldwide brand founded in Germany in 1958 The brand produces and distributes fitness, running, cross-fit sportswear, footwear and apparel. The global headquarters are located in Boston, Massachusetts.
Can Master P and Baron Davis reimagine the Reebok brand and make it as popular as it was in the past?
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