Master P and Baron Davis Could Purchase Reebok for $2.4B USD
adidas is reportedly looking to finalize a sale by March 2021.
According to reports, hip-hop mogul Master P and former NBA All-Star Baron Davis are in talks to buy Reebok. The reports go on to note that the duo could acquire the iconic footwear brand from adidas for $2.4 billion USD.
Speaking to Forbes, Master P said, “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.” Master P and Davis aim to give smaller footwear companies a chance to be distributed by Reebok and offer a platform for African Americans to own a piece of the “athletic footwear and apparel pie.”
The latest news of adidas looking to sell the brand it acquired 15 years ago, comes after a Q2 2020 earnings report that revealed revenue generated by Reebok was down 42 percent amidst the Coronavirus pandemic. Reports are noting that adidas aims to finalize a sale by March 2021 with China’s ANTA Sports and the VF Corporation which owns Timberland, Vans and The North Face also vying to own Reebok.
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