Reebok could have a new owner soon, Percy “Master P” Miller confirmed that he’s in talks with the parent company Adidas to acquire the sportswear brand with former NBA All-Star Baron Davis.
Rap mogul Master P and former basketball player Baron Davis are in talks to buy sportswear company Reebok for $2.4 billion.
The pair has entered into negotiations with parent company Adidas to acquire the brand, according to Forbes.
Adidas executives purchased Reebok for $3.8 billion in 2005, but they haven’t had the success they had hoped for.
Master P has confirmed the news to ESPN, stating, “These companies have been benefiting off us, this could be history for this company going black-owned…”
“Imagine if Michael Jordan owned Reebok? That’s what I’m talking about making history. 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.”
Before the Rebook negotiations emerged, Master P seemingly hinted at his upcoming project in one of his posts on Instagram as he wrote to his online followers, “From poverty to creating brands. Next step buying big brands and giving our people opportunities. God is good. Trust the process. Next move is about to get even bigger.”
Meanwhile, Baron Davis posted the news on his own page while cracking a joke as the blog mistook him for his pal Chico Bean. “Had to post this!!! If you looking for me I changed my name to @chicobean Dm me for questions on the deal @chicobean #NewBaronDavis,” he penned while adding a string of crying and laughing emojis.
Director Deon Taylor responded to the gaffe, “Man !! They keep making these mistakes !! What’s really going on!!.” He added, “Congratulations king !!! No words to describe the energy and proudness we have for you !!! Keep lifting the culture !!! This is a game changer for our kids !!”
Master P has always been an entrepreneur, and if anyone can make this work it’s him. More Black ownership is needed on the corporate level.