Percy "Master P" Miller (right) and former NBA All-Star Baron Davis (left) are in talks to acquire the sportswear company Reebok.
The entrepreneur became a hip-hop mogul Percy "Master P" Miller and former NBA All-Star Baron Davis are in talks to acquire a sportswear company that has long benefited from black entertainers and athletes promoting the brand. Reebok, owned by Adidas, is valued at around $ 2.4 billion. Miller told ESPN that he and Davis were "financially prepared" after months of negotiating with the company. "These companies have benefited from us. This could be history for this black-owned company," Miller told ESPN.
Investors have urged Adidas to discharge Reebok, which has struggled to stay relevant despite the resurgent popularity of brands like Adidas, Forbes reported. "I think Reebok is undervalued," Davis told Forbes. I know athletes, influencers, designers and celebrities who sit with me at the table. "