LeBron James leaves behind Coke for deal with Pepsi
Reuters
Published Jan 16, 2021 02:35AM ET
LeBron James is changing teams in the cola wars.
The Los Angeles Lakers superstar, a pitchman for Coca-Cola since entering the NBA in 2003, is set to land a new deal with PepsiCo (NASDAQ:PEP).
The news was first reported Friday by Front Office Sports, then confirmed by ESPN.
James reportedly will endorse Mountain Dew's new "Rise Energy" beverage, part of the PepsiCo family, and he also could become the face of Pepsi Cola.
His deal with Coca-Cola ended last year after he spent years hawking Sprite and Powerade.
A Coca-Cola spokesperson told Front Office Sports, "LeBron's contract came up at a time when both he and The Coca-Cola Company (NYSE:KO) were actively reviewing all of its resources to make sure it was investing in places that ensured long-term growth. After many discussions with LeBron and his team, we mutually agreed to part ways."
PepsiCo and James' representatives refused to comment on the report, per Front Office Sports.
James ranked fifth on Forbes' 2020 list of the world's highest-paid athletes, with his $60 million in endorsements for the year tying for second on the list with the No. 8 Tiger Woods. No. 1 Roger Federer was tops in endorsement money at $100 million.
--Field Level Media
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Written By: Reuters
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