King James Funding
An LLC created by LeBron James to raise funds through a bond offering secured by his lifetime contract with Nike.
Why It Works
It leverages the value of LeBron's future income from Nike to secure immediate cash flow, while allowing him to retain ownership of the underlying asset.
Revenue & Traction
Raised $300 million through a bond offering with a sub 5% coupon.
Founding Story
Initiated by LeBron and his financial team in 2018 as a way to monetize his Nike contract without selling the rights.
Business Playbook
Utilized a bond structure that allowed for tax-efficient access to capital, which is a relatively innovative financial move in the sports endorsement space.
Why this works now
Most athletes do not monetize their endorsements in this way. King James Funding uses a bond offering, secured by LeBron James's lifetime contract with Nike, to convert future income into immediate cash flow. The company successfully raised $300 million with a sub 5% coupon rate. This strategy allows LeBron to retain ownership of his contract while accessing funds. A targeted outreach through financial publications like The Wall Street Journal can attract institutional investors interested in unique bond offerings. A key risk for King James Funding lies in the reliance on LeBron's continued marketability and performance, as any decline could impact investor confidence and future revenue projections.
Additional Information
This approach is similar to the Bowie bond concept, where musicians offer future royalties for upfront cash.
Source
Podcast: My First Million
Episode: How to naturally monetize what you love
Creation Date: September 4, 2026
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