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In the midst of an eternal battle to win over Reebok, rapper Master P and NBA icon Baron Davis are negotiating with adidas to buy the brand for $2.4 million.
“These types of companies have benefited from us, this could be history for this company to become black-owned,” say those concerned.
adidas is considering several put options to close the deal in March 2021, following earnings reports that said Reebok‘s revenue would drop by 42% in the second quarter of 2020. The pandemic fully infected the company’s economic power.
According to Master P‘s lines for Forbes, the duo’s goal will be to make Reebok a lifestyle brand, beyond basketball. But, above all, the aim will be to give back to the community that built the company. We understand that the idea will be to provide a platform for afroamericans to actively participate in, and ‘own’, a portion of the footwear/sportswear scene.
adidas is thus on the verge of selling the brand it acquired 15 years ago, which it now wants to negotiate between a cast of bidders including the Chinese company ANTA Sports and the VF Corporation. Master P and Baron Davis will certainly not have it easy.