Roommate, if you know anything about Hip Hop Mogul, Percy “Master P” Miller, then Black Enterprise is all about. When it comes to his vision, he can sell water to a whale. The successful Mughal is in talks to add another business to his empire. According to Forbes P, Baron Davis is in talks with the former NBA All-Star to buy footwear company Reebok for $ 2.4 billion.
The German sportswear parent company Adidas currently owns reebok. Reports surfaced in late October that Adidas allegedly wanted to sell the brand 14 years after acquiring Reebok, which was founded in 1958. Last year, Adidas wrote Reebok’s book value by almost half compared to 2018, to $ 995 million.
With news like this, we reached out to P to see how long it could take for this deal to go through. P said exclusively to TSR: “A deal like this takes time, but that’s history for our culture! It’s time to buy back the brands we’ve built and put money back in our communities! “
As P and Baron may own Reebox, they can steer the brand in a different direction and leverage their hip-hop influence. The brand has worked with rappers JayZ and Kendrick Lamar in the past, so there’s no telling what future collaborations would look like.
Speaking directly to Forbes, Baron said, “I think Reebok is undervalued. I left Nike as a 22 year old representing myself and jumped to Reebok, which was an opportunity for me as a creative and athlete. I want the people I know, athletes, influencers, designers, celebrities, to sit at the table with me. “
The deal is still ongoing, but that would definitely be something to look forward to next year. Roommate, how do you feel about it ?!
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