Former rapper Master P and former NBA All-Star Baron Davis have jointly entered into negotiations with parent company Adidas to acquire the once-mighty shoe brand Reebok, which is reportedly on sale for some $2.4 billion, reports the Daily Mail and other media.
Master P is the stage name of Percy Robert Miller, a 53-year-old rapper, actor, record producer and entrepreneur whose net worth is said to be valued at $200 million.
Davis, 41, is a retired former professional basketball player who played 15 seasons for various teams, including Charlotte, New Orleans, Golden State, Los Angeles Clippers, Cleveland, and New York.
He currently works as a studio analyst for Turner Network Television’s coverage of the NBA.
In his post-playing days, Davis has branched out to acting in films and television shows. He has also started up his own business selling clothing.
Their interest in buying Reebok was reported by Forbes and ESPN.
“These companies have been benefiting off us, this could be history for this company going black-owned,” Master P told ESPN reporter Eric Woodyard.
The mogul said that he and Davis are “prepared financially” after two months of talks with Adidas.
“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.”
“I think Reebok is being undervalued,” Davis told Forbes.
“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.”
Adidas, the German sportswear maker, released a statement earlier this month indicating that it was considering a potential sale of Reebok 15 years after it bought the U.S.-focused brand to take on archrival Nike on its home turf.
The decision will be announced on March 10, when the company officially presents its new strategy, according to Adidas.
