Music mogul Master P and former NBA Player Baron Davis are reportedly in talks to buy sportswear brand Reebok for $2.4 billion dollars.
“I think Reebok is being undervalued,” said Davis, according to Forbes. “I left Nike as a 22-year-old kid representing myself and made the jump to Reebok, which took a chance on me as a creative and as an athlete. I want the people I know — athletes, influencers, designers, celebs — to sit at the table with me.”
Reebok was acquired by Adidas in 2005 for $3.8 billion, but its value has decreased and now Adidas is eager to sell the brand.
“These companies have been benefiting off us, this could be history for this company going Black-owned,” Master P told ESPN. “As we focus on turning Reebok into a lifestyle brand, not just a basketball brand,” said Miller, “our most important initiative will be to put money back into the community that built this company.”
If the pair is able to pull this off, it will be a history-making move.
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