Derrick Rose May Walk Away From $80M Shoe Deal

Derrick Rose May Walk Away From $80M Shoe Deal

(FreshAsFrankie) Recently, Derrick Rose took an indefinite leave-of-absence from the Cleveland Cavaliers. According to reports, the point guard was hit with an ankle injury that he caught on November 7, which put him on the sidelines since then. Because of that, Rose is reportedly considering his future in the NBA, as well as an early retirement.

Now, the 29-year-old who is on a one-year contract with the Cavs may walk away from $80 million on his Adidas deal he signed in 2012.

ESPN reported that Adidas is “protected” from Rose’s current situation. The contract between Rose and Adidas states that the company is responsible for making and marketing a new Derrick Rose signature shoe every year he plays. However, if Rose decides to retire as reports have stated, then the remaining seven years of the deal are not required to pay out.

The extension on the deal Rose and Adidas made was for $185 million over 13 years.

Source: espn.com

LeBron Says He’s Interested in Purchasing the Cleveland Cavaliers

LeBron Says He's Interested in Purchasing the Cleveland Cavaliers
(FreshAsFrankie) LeBron James is one of the sports world’s most prominent stars and has seen himself become a global brand. Aside from LeBron’s on-the-court prowess he’s been able to leverage his star power to make some serious money moves and at this point in his career, it’s natural to start thinking about the next phase in life. That next phase could include team ownership as LeBron told with reporters:

To be an owner of any team would be crazy, […] If this thing opened up and I’m in a position financially, and I’ve got the right team around me, obviously. But who’s to say Dan will (sell)? I’ve always kept it just player/owner at this point. I guess once I come down to that point, if the conversation needed to be had, I’ll have it. But I don’t have it right now.

If LeBron were to ever become principal owner of the Cavs, Dan Gilbert would have to be willing to sell. But if he were to sell, the King would have to cough up roughly $1.2B. But if he takes a note from Magic Johnson and forms an ownership group he could likely meet the price tag.

Do you think LeBron should seriously consider buying the Cavs?

Source: Bleacher Report

Dwyane Wade Expected to Join LeBron and the Cavs at Some Point This Season

Dwyane Wade Expected to Join LeBron and the Cavs at Some Point This Season
 (FreshAsFrankie) It looks like Dwyane Wade is going to be joining LeBron on the Cavs this season. On the Wine and Gold Talk podcast, Cleveland.com‘s Joe Vardon noted, “As of right now, people close to James are fairly confident that, at some point this year, Dwyane Wade is going to end up on the Cavs.”

Following up with that speculation, Nick Friedell of ESPN.com made a report on August 17th suggesting that Wade could push for a buyout with Chicago saying there is a “Widespread belief within the organization…that a deal that would allow Wade to play elsewhere will eventually get worked out at some point during the season.”

With Kyrie Irving going to Boston the Cavs could use an experienced player, especially one who LeBron won two rings with. It’s very likely that Wade will go to Cleveland, but whether or not it’ll be at the start of the season is questionable.

Source: bleacherreport.com