There's a $2.4 billion asking price on the table.
If there is a game-changing, money-making, influential deal on the table, Master P isn't far. Both the rap mogul and former two-time NBA All-Star Baron Davis are reportedly looking to make a multi-billion-dollar purchase as Forbes states that the pair are hoping to buy Reebok. Both Davis and Baron are well-respected in their entertainment and athletic fields, but they are also formidable forces as it pertains to savvy business moves.
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Forbes detailed Reebok's recent financial history, citing that Adidas acquired the company back in 2005 for $3.8 billion in hopes of rivaling Nike in sales. Reebok's value in 2019 was noted by Adidas as being $995 million, but after having a more successful year, Adidas is looking to unload the brand for $2.4 billion.
"I think Reebok is being undervalued. 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,” Davis told the publication. Master P added, “As we focus on turning Reebok into a lifestyle brand not just a basketball brand, our most important initiative will be to put money back into the community that built this company."
With the sports and rap worlds colliding in this deal, Reebok could be looking at a rebranding structure that could prove to place the company back on the scale of its rivals. It's unclear where Davis and Master P are in their negotiations and acquisition, but we'll keep you updated on future progress.