Adidas acquired Reebok in 2005 for $3.8 billion. The brand returned to profitability in 2018, two years earlier than initially planned. In 2019, Reebok, driven by double-digit growth in North America, saw global sales increase.
According to Eric Woodyard – ESPN’s NBA reporter, Reebok may soon be in the hands of Hip Hop’s own Percy Miller, better known as No Limit’s Master P, and former NBA player and businessman, Baron Davis.
The pair have entered into negotiations with parent company Adidas to acquire the shoe 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) companionship dating website
According to Forbes, Reebok's asking price from it's parent company Adidas is around $2.4 billion. Master P says they're "prepared financially" after a couple months of negotiations.
Miller: "Imagine if Michael Jordan owned Reebok? That's what I'm talking about making history."
— Eric Woodyard (@E_Woodyard) base in dating
“Imagine if Michael Jordan owned Reebok? That is what I am talking about making history, 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” said Master P.