Celtics' Brown launches own performance brand, signature shoe

Boston Celtics star Jaylen Brown is entering the basketball sneaker market.

Brown unveiled his new performance brand, 741, along with his own signature shoe on Tuesday. Brown's team said he turned down over $50 million in endorsement deals to launch his own brand, according to Ben Felderstein of Complex.

"The understanding of ownership and value is what's important for the next generation of athletes," Brown said. "It's time to think different and be different ... create new ideas. It's time to create more value for everyone involved, from athletes to consumers to employees and the communities that support them."

The name "741" holds a deep meaning for Brown. "The No. 7 represents spiritual awakening, wisdom, and understanding, while four symbolizes hard work, stability, and practicality. The No. 1 stands for new beginnings, creativity, and independence," his brand's website states.

Brown's sneaker is set to release on Oct. 22 when the Celtics host the New York Knicks in their regular-season opener.