- Apr 15, 2004
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The Grio reports that Hip-Hop mogul Percy “Master P” Miller and former NBA star Baron Davis are negotiating to buy Reebok from its parent company, Adidas, for $2.4 billion.
If it all works out, it will turn Reebok into the first Black-owned major sneaker brand.
“These companies have been benefiting off us, this could be history for this company going Black-owned,” Master P told ESPN.
“As we focus on turning Reebok into a lifestyle brand, not just a basketball brand,” said Miller said in Forbes, “our most important initiative will be to put money back into the community that built this company.”
Adidas announced on December 14 it could potentially put the struggling shoe business up for sale, a “strategic alternative” for Reebok.
"Allen Iverson set to rival Michael Jordan in sneaker battle": Master P reveals marketing plan for Reebok if he acquires struggling brand from Adidas - The SportsRush
Rapper Percy Miller believes that bringing back Allen Iverson to the forefront is the way to go for Reebok to rival Michael Jordan and Nike.
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