Iverson's marketing feat: Reebok signs him for life The apparel company announced an agreement last night that is projected to pay Iverson about $10 million this year, with minimum guarantees in successive years. The deal is listed as an extension of the 10-year, $50-million deal that Iverson signed 51/2 years ago. Though officials would not discuss specifics, the $50 million is said to be the minimum amount Iverson could receive under the new deal. "This contract goes beyond Allen's career," Paul Fireman, chairman and CEO of Reebok said at a news conference at the First Union Center before last night's Sixers-Wizards game. "Hopefully, he will have an illustrious, long, long career in the NBA. But we don't consider our relationship to be one that will stop the moment his career ends. We'll actually continue to bring forth products and engage consumers for years after his career is over." Reebok and team sources say they expect that the $10 million annual figure should not dip considerably over the next few years as long as Iverson's apparel line - and Reebok itself - continue to do well and Iverson is playing. There is a morals clause in the contract, although sources would not describe what it says.  Reebok's commitment ensures that Iverson will be paid by the company as long as he's alive and the company is in business. Iverson didn't expect such a move. Predictably, though, he's thankful. "I was hoping [it would happen]," Iverson said. "I've been with Reebok for nearly six years. I was hoping that once the original contract was over, I would be able to sign another one. But I'm signing one before my original contract expired. I didn't expect it, but I was hoping it would go this way and I'm satisfied. I want a whole bunch of endorsements but I'll take what I can get. Right now, I think this is the best one for me." Reebok suggested as much years ago when signing Iverson, then straight out of Georgetown University, in 1996. And they didn't shy away from their commitment yesterday. Repeatedly, officials from the No. 2 apparel giant (behind Nike), mentioned the word lifetime to emphasize their devotion to Iverson.  And they said their commitment was justified based on the appeal of Iverson, whose signature shoe, "The Answer," has been among the top sellers since it was introduced in 1996.  While acknowledging that Michael Jordan's retro line of sneakers does very well and saying that they expect Jordan's new line (due out in February) to be quite competitive, Iverson's "The Answer V" line, which came out on Halloween, is still a top seller. Reebok's deal ensures that no other apparel company gets its hands on Iverson. For the moment, Iverson, whose contract with the Sixers runs through 2005, appeared to have no problem with that. "It shows a lot of commitment on their part," Iverson said. "Hopefully, I can stand up with my part and do the same thing. They've been helpful with me from day one. I haven't had the greatest past in the world, but they always stuck by me and stood up for me when times were bad. This is another time they stood by me. I'm just looking forward to doing the best I can for Reebok."		Author Stephen A Smith   Source Inquirer   Return to Articles