Master P tells ESPN that he and Davis are in talks with Reebok’s parent company, Adidas, to buy the brand.
Percy “Master P” Miller confirms to ESPN that he’s in negotiations to acquire Reebok with ex-NBA guard Baron Davis.
“These companies have been benefiting off us, this could be history for this company going Black-owned,” Miller tells ESPN.— Eric Woodyard (@E_Woodyard) December 28, 2020
The Hip Hop Legend confirms the news with ESPN’s Reporter Eric Woodyard.
“These companies have been benefiting off us, this could be history for this company going Black-owned,” Master P tells Woodyard.
While sharing his vision for the company, the rapper recognizes NBA Legend Allen Iverson and his iconic influence on the brand.
Master P shares vision for Reebok: “Crown @alleniverson and give him his righteous icon status for being probably the most elite athlete wearing Reebok. Allen Iverson is Jordan for Reebok. Nobody never gave him the royalties or ownership as the icon for the brand.”— Eric Woodyard (@E_Woodyard) December 29, 2020
In an interview with Forbes, the rapper explains how he plans to rebrand the company.
“As we focus on turning Reebook into a lifestyle brand not just a basketball brand, our most important initiative will be to put money back into the community,” says Master P.
According to reports, Adidas plans to sell Reebok following a 2020 earnings report that revealed Reebok’s generated revenue fell by 42 percent.
Reports claim that Adidas aims to finalize the sale in March 2021.