Hip-hop legend Master P and former NBA all-star Baron Davis are reportedly part of an investment group looking to acquire Reebok for $2.4 billion. Reebok was purchased by Adidas in 2005 for $3.8 billion in hopes of joining forces to compete with the industry giant Nike. Adidas looks to sell the brand due to Reebok revenue decreasing by 42% throughout the COVID-19 pandemic.
Master P’s Experience
Along with being an iconic hip-hop figure, Master P has an impressive business track record. The New Orleans native rose to prominence as the owner of No Limit Records. Originally a record store in Richmond, California, it went on to become a record label that has been the home for several notable rappers including the legendary Snoop Dogg. Master P, real name Percy Miller, owns several other businesses including No Limit Clothing, No Limit Films, No Limit Sports Management, MP Realty, Big Poppa Burgers, Moneyatti (a luxury clothing brand), and Uncle P’s (a brand of instant rice created to compete with Uncle Ben’s). Other business ventures include a Foot Locker retail outlet, energy drink partnerships, a travel agency, and stocks. Master P is also the manager of his son, Romeo Miller, and the executive producer of his Nickelodeon series “Romeo!”. Master P was also a talented basketball player, having signed preseason contracts with the Charlotte Hornets and Toronto Raptors in 1997 and 1998. Despite never appearing in an official NBA game, he has played in several professional basketball leagues as well as the NBA Celebrity Game. Miller has a current net worth of $200 million.
Baron Davis’s Experience
Despite having a significantly smaller business resume than his rapper counterpart, former NBA all-star Baron Davis is very experienced in the world of sports, media, and branding. He represented Nike, Reebok, and Chinese brand Li-Ning throughout his playing career. A former first-round draft pick, Davis had a very successful NBA career that came to a close in 2012. Since then he has worked as a basketball analyst for TNT. Davis is no stranger to the media attention as he has appeared in several Pepsi advertisements, The Night Before, Joe Dirt 2, and That’s My Boy. Davis has partaken in business ventures of his own, creating the Black Santa Company which sells Christmas products including shirts, beanies, onesies, and ornaments. In 2019 he joined an advisory board for Tinley Beverage Company Inc. Davis has a current net worth of $60 million.
Future of Reebok
Reebok has not been as successful as Adidas had hoped it would be when they purchased the brand 15 years ago, as there have been two logo changes (a new logo and a reversal to the original) as well as failed attempts to become part of the CrossFit trend. Master P and Baron Davis look to steer Reebok back into cultural relevance, and they believe they are well equipped to do this. “As we focus on turning Reebok into a lifestyle brand — not just a basketball brand — our most important initiative will be to put money back into the community that built this company” stated Miller, who has always emphasized giving back. Davis also commented on the prospect of buying Reebok, “I think Reebok is being undervalued. I left Nike as a 22-year-old kid representing myself and made the jump to Reebok, which took a chance on me as a creative and as an athlete. I want the people I know, athletes, influencers, designers, celebs to sit at the table with me”.
Before Miller and Davis can change the future of Reebok, they must acquire it first. Adidas is reportedly looking to sell the brand by March 2021 with other potential buyers including China’s ANTA Sports and the VF Corporation, which owns Timberland, Vans, and The North Face. It will not be easy for Miller and Davis to purchase Reebok, but if they do, there truly is no limit for what they can accomplish.