- "Following Kevin Durant’s monstrous deal with Under Armour, Payless ShoeSource has offered LeBron James an unprecedented contract which would pay him $50 million per year for 10 years.
- Payless spokesperson James Weilen admitted the company drew inspiration from Under Armour, who recently offered Kevin Durant a 10 year contract worth $285 million. 'The deal with Durant proved stars will sign with smaller companies if the situation is right,' Weilen stated. 'The prices of shoes have climbed to astronomical heights, and many of today’s stars have realized the need to offer affordable, quality shoes to their supporters and fans. We believe LeBron will make the correct decision for both himself, his fans, and his family.'”
- "In addition to the large sum of money, the company has offered the Cleveland Cavaliers superstar a large portion of stock in the company. Payless, which has existed since 1956, brings in over $3 billion in sales annually."
- "The company wants LeBron to revive their sports line Pro Wings, which reached its height in the early 90′s. Pro Wings were often styled similarly to expensive alternatives created by ReeBok and Nike."
Hedgeye's Brian McGough: 5 Reasons why Payless Has No Prayer of Getting Lebron
1) You're not making money.
2) LeBron couldn't care less about lowering the price of his shoes. Nike has sold LBJ footwear for over $300 and he laughed all the way to the bank.
3) LBJ is not gonna wear Red Wings.
4) Do you really think he can be incentivized by stock in Payless?
5) Last we checked, he's in bed with a company called Nike that won't let him go.