Former NBA veteran Baron Davis and rapper Master P are reportedly poised to buy Reebok from sneaker giant Adidas for a $2.4 billion price tag, per The Grio. Back in his playing days, Davis began his career playing in Nike basketball shoes but eventually jumped ship to Reebok, a brand that he thinks is still being overlooked up to this day.
“I think Reebok is being undervalued,” said Davis, according 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.”
His business partner in Master P also wants to create his own legacy with Reebok as they are both setting their sights on making the company the first Black-owned sneaker brand in the industry.
“These companies have been benefiting off us, this could be history for this company going Black-owned,” Master P told ESPN.
The looming purchase of Davis and Master P is timely for Reebok especially in the context of the ongoing Black Lives Matter movement. They are looking to overhaul the company into a lifestyle brand that will allow independent shoe-makers to get on board with them and have their products distributed as well.
Apparently, Reebok has already been involved in the music industry as well after inking a collaboration with an up-and-coming rapper in Jay-Z back in 2003. The endorsement deal proved to be worth it for the brand as their sales skyrocketed in the following year.
Not long after, Adidas acquired Reebok in 2005 for a reported price of $3.8 billion. However, the Germany-based sneaker company didn't get to see much success with Reebok which prompted their decision to sell it instead.
Both Baron Davis and Master P are experienced entrepreneurs with investments in various industries including food, technology, and sports, among others.
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