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For $2.4B, Master P and Baron Davis Could Soon Be the New Owners of Reebok

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.   View this post on Instagram   A post shared by Master P (@masterp) 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...

Dec 29, 2020