Master P to Buy Reebok for $2.4 Billion with former NBA player Baron Davis
Master P has teamed up with former NBA All-Star Baron Davis in the hopes of purchasing an iconic shoe brand, and it could cost them over $2 billion.
Master P says he wants to "put money back into the community that built [Reebok]"
On Monday (Dec. 28), Forbes reported Master P and 2x NBA All-Star Baron Davis are leading an investment group to purchase Reebok from adidas.
Adidas is planning to sell the shoe brand by March 2021.
“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,” the No Limit Records founder told Forbes.
Davis reflected on the brand’s room for growth among professional athletes.
“I think Reebok is being undervalued,” he said. “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 [and] celebs — to sit at the table with me,” he added.