*LeBron James has inked a multi-year partnership with PepsiCo after his contract with the brand’s rival Coca-Cola expired in September.
According to Mike McCarthy of Front Office Sports, James will be promoting PepsiCo’s new Mountain Dew energy drink MTN DEW RISE.
“LeBron’s contract came up at a time when both he and The Coca-Cola Company were actively reviewing all of its resources to make sure it was investing in places that ensured long-term growth,” a Coca-Cola spokesperson said, according to McCarthy. “After many discussions with Lebron and his team, we mutually agreed to part ways.”
James’ new deal with PepsiCo will also see him promoting several products across multiple categories, including snacks.
“When I first learned about the message behind the drink – the fact that every day is a chance to rise for all of us – that really resonated with me,” James said, according to McCarthy.
READ MORE: LeBron James Makes History as Part-Owner of the Boston Red Sox [VIDEO]
News: LeBron James has officially signed a deal with Pepsi that sees him leave Coke after 18 years.
James will be the face of the soda giant’s new MTN DEW RISE energy drink. pic.twitter.com/xAmYbgredl
— Front Office Sports (@FOS) March 17, 2021
James was previously partnered with Coca-Cola for nearly 18 years, during which he dropped his own custom soda “Sprite 6 Mix by Lebron James.”
Per Insider, PepsiCo replaced Coca-Cola as the official food and beverage partner of the NBA and WNBA in 2015 after Coca-Cola’s 28-year partnership with the league as the previous official partner ended.
James’ PepsiCo partnership follows news that he has made history by becoming part-owner of the Boston Red Sox. The NBA star and his business partner Maverick Carter are now minority owners of Fenway Sports Group (FSG), the company that owns the Boston Red Sox, sources told the Boston Globe and ESPN on Tuesday.
James and Carter have made history as the first Black partners in FSG’s history.
“It’s breaking down the barriers,” James’ agent Rich Paul told CNBC on Tuesday of the partnership. He added, “You’re talking about a game that was once limited. Jackie Robinson and Roberto Clemente – guys like that people didn’t even want to play the game. The Negros had to have their own league to us now owning and representing in that business sector.”
“It’s a testament to us continuing to evolve and not being complacent,” Paul said.
“He’s extremely serious about sports ownership,” Paul added.
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