According to reports, hip-hop mogul Percy Miller aka 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.
Master P, who has a diverse portfolio of investments and helped found Rap Snacks almost 30 years ago, says he is looking to reinvest in communities that helped propel Reebok to success in the first place. P and Davis plan to give smaller shoe companies a chance to be distributed by Reebok and offer more African Americans a chance to own a piece of the “athletic footwear and apparel pie.”
View this post on Instagram
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.”
View this post on Instagram
If Master P succeeds in obtaining Reebok, he aims to put Allen Iverson front and center. “The way we look at Michael Jordan for Nike, we look at Allen Iverson that way in Reebok,” Miller said. Based on other sources who spoke to Forbes, Adidas is looking to finalize Reebok’s sale by March.