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Former NBA star Baron Davis and hip-hop mogul Master P (real name: Percy Miller) have both expressed on the record to Forbes and ESPN that they would like to buy Reebok, which is currently on the market from its owner, Adidas, for a price of about $2.4 billion.
“I think Reebok is being undervalued,” Davis told Kori Hale of 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.”
“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,” Miller told Forbes.
Miller confirmed the story to Eric Woodyard of ESPN, and has said they have the financial logistics sorted out:
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
Both Davis and Miller have been very successful in a number of business endeavors. Davis, for example, was an early investor in Vitamin Water, which sold to Coca-Cola for $4.1 billion (it’s unknown how much Davis made from this.) Davis earned nearly $150 million as a player in the NBA and is a serial investor. According to Yahoo Finance, Miller has an estimated net worth of $250 million.
Where the rest of the money would come from is a question we don’t yet know the answer to, but it’s not inconceivable that they could pull this off.
Retro brands come back into vogue all the time. Last year, I wrote about how Champion was having a renaissance just in time for its 100th birthday as a brand. If the right people ran Reebok and put the right emphasis into it, it could definitely strike a chord in a sneaker market where, for many lines, there is more demand than supply.
We shall see if this winds up going through, but it’s a very interesting idea on paper.