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LeBron James made a big business decision recently when he decided to end his endorsement deal with McDonalds and join a rapidly growing Pizza chain called Blaze Pizza.
— LeBron James (@KingJames) October 8, 2015
James reportedly owns over 10 percent of the company and is preparing to heavily promote their pizza through his social media. Read the details below via ESPN:
LeBron James has decided to leave guaranteed endorsement income on the table for a potentially much bigger piece of the pie down the road.
James has decided not to renew his option with McDonald’s; he will lend his name and marketing power to fast-casual pizza franchise Blaze.
In 2012, James became an original investor in the parent company, which is one of the stronger players in the assembly-line pizza concept.
Together with Larry Levy of Levy Restaurants and his business manager, Maverick Carter, James locked up franchise rights in Miami and Chicago.
But James, who has previously cashed out of equity stakes in Cannondale and Beats By Dre, added to his ownership of the pizza company by recently committing to be part of its marketing campaign.
“This move aligns with LeBron’s brand and his history of helping companies grow faster and bigger as an equity partner,” Carter said.
The deal was put together by James’ business adviser, Paul Wachter.
Neither the company nor Carter would disclose the exact stake James has in Blaze, but a source told ESPN.com that he owns more than 10 percent of the company, which is separate from his stake in Chicago and Miami franchise rights.