Nike signs LeBron to lifetime deal

Cleveland Cavaliers megastar LeBron James has agreed to a lifetime contract with Nike, the company announced Monday.

The deal was first reported by ESPN's Darren Rovell.

Details of the agreement have not been disclosed, but Rovell reports that it's the largest single athlete guarantee in company history.

"We can confirm that we have agreed to a lifetime relationship with LeBron that provides significant value to our business, brand and shareholders," Nike said in a statement. "We have already built a strong LeBron business over the past 12 years, and we see the potential for this to continue to grow throughout his playing career and beyond."

Oklahoma City Thunder star Kevin Durant signed a 10-year, $300-million deal with Nike - which ultimately outbid Under Armour - last summer. Sources told Rovell that James' agreement "easily surpasses" what the four-time scoring champion is making.

Nike currently has 13 different versions of James' shoe - the most for any athlete not named Michael Jordan - which are estimated to top $400 million in annual sales this year.