Percy ‘Master P’ Miller and Baron Davis are in talks to buy Reebok.
The 50-year-old rapper and former NBA All-Star player are believed to be “in negotiations” to acquire the sportswear brand from current owners Adidas.
ESPN’s NBA reporter, Eric Woodyard, tweeted on Monday night (28.12.20) that: “Percy “Master P” Miller confirms to ESPN that he’s in negotiations to acquire Reebok with ex-NBA guard Baron Davis.
“These companies have been benefiting off us, this could be history for this company going Black-owned,” Miller tells ESPN. (sic)”
As per Forbes, Adidas is looking for around $2.4 billion for Reebok.
However, retired basketball pro Baron, 41, told the outlet: “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.”
While his fellow investor, Master P, added of their aim to transform the iconic company: “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.”
Adidas bought Reebok back in 2005.