Jersey seller Fanatics could be on hook for millions if LeBron changes teams

As the NBA world anxiously waits for LeBron James to make his free-agency decision, Fanatics is bracing for what could be a slew of jersey exchanges.

The jersey retailer launched a program in November called Jersey Assurance, which as ESPN's Darren Rovell explained, allows fans to exchange a player's jersey free of charge if that player changes teams within 90 days of the purchase. In January, Fanatics announced that those who purchased a jersey with an American Express card would have a year to exchange it if a player is no longer with that team.

James' pending free agency will be the first big test for the program.

"We've heard a lot of people ask, 'What is the catch?'" Chris Orton, co-president of Fanatics' direct-to-consumer retail business, told Rovell. "And the truth is there is no catch."

Fanatics said sales of James' jerseys are up 25 percent over the past three months compared to this time last year, though fans could be purchasing them as a keepsake rather than with the intention of exchanging them.

"Sure there's some money at risk for us here," Orton said. "But that's in the short term. We really look at this as a marketing expense to give fans further confidence in buying their jerseys."