Reebok may soon be owned by two of the hottest names in the sports and entertainment world.
According to Forbes, its German sportswear parent company, adidas, plans to offload the household name brand, which was once a cultural icon. Reebok, who has seemingly struggled to grasp the attention of today’s tastemakers and trendsetters, could soon be back in the limelight under the direction of serial entrepreneur, Percy “Master P” Miller, and former NBA All-Star Baron Davis.
Currently, the dream team is looking to acquire the company which reportedly has an asking price of about $2.4 billion.
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Founded in 1958, Rebook was purchased for $3.8 billion by adidas back in 2005. However, the company reports their book value is down by nearly half of what it was in 2018 — 842 million euros which translate to $995 million.
It is now imperative to bring on people like Davis and Miller who not only have a business mindset but have been able to successfully immerse music, sports, and culture in past business endeavors.
Could the company — that pioneered the idea of signing rappers to shoe deals just like their athletic counterparts — make a comeback under new leadership? Only time will tell, but we’d love to see Master P and Baron Davis take Reebok to new heights.
