James signs NFL's Ginn to marketing deal
LeBron James, further broadening his business portfolio, recently signed Miami Dolphins rookie Ted Ginn Jr. to a marketing contract. Ted Ginn Jr., a former Ohio State speedster, is the first athlete signed by LRMR Marketing, James' budding company.
"To do this, not so much for money but to maybe get on a Sprite commercial with LeBron or anything, that'd be fun," Ted Ginn Jr. said.
Ted Ginn Jr., who signed a five-year contract worth more than $13 million last week, said knowing James for years made the decision an easy one.
"A lot of football guys don't get a lot of marketing their first couple years coming out," he said. "You've got to do big things to do that. He's been a good friend to me for the last four or five years, so the best thing for me is get involved with someone I know."
The Cleveland Cavaliers forward formed the firm two years ago with childhood friends Richard Paul, Maverick Carter and Randy Mims. The company takes its name from the initials of their first names. Carter, CEO of LRMR, said they plan to sign other pro athletes
James, 22, signed a seven-year, $90 million deal with Nike before graduating from high school and has more than $150 million in endorsement contracts. He launched a website this year in a partnership with Microsoft. Forbes magazine estimated James made $26 million from June 2005 to June 2006.
James hosted the ESPY Awards last month and will host the season premiere of Saturday Night Live in September.
Briefly:
Jannero Pargo has agreed to a two-year contract with the New Orleans Hornets as a backup guard. Pargo's agent, Mark Bartelstein, said the deal is worth nearly $4 million with a player option in the second year. … The Dallas Mavericks have agreed to a two-year, $4 million deal with guard-forward Eddie Jones, 35. His agent, Leon Rose, said the unrestricted free agent would receive about $1.87 million in the first year from the Mavericks' biannual exception.
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