Rap mogul and successful businessman Master P has purportedly partnered up with former NBA All-Star Baron Davis to purchase footwear and clothing company Reebok.
In a report published by Forbes on Monday, Dec. 28, the rapper, whose real name is Percy Robert Miller, and Davis responded to speculation that they could be among potential bidders if Reebok is put up for sale by its parent company, Adidas, for an estimated $2.4 billion.
Adidas acquired the brand nearly 15 years ago for $3.8 billion. Its value has decreased significantly over the past decade, and rumors that Adidas wants to unload the brand have cropped up repeatedly for years. A sale to Master P and Davis would make the shoe giant the first Black-owned major sneaker brand.
“I think Reebok is being undervalued,” Davis told 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 the first major shoe company to sign a music artist in an endorsement deal, similarly to how such companies associate their brands with athletes. Following their collaboration with Jay-Z in 2003 and the rapper’s S Carter sneakers, the company saw an immediate increase in sales the following year.
In a statement to ESPN, Master P, who said they’re “financially prepared” to close the deal added, “These companies have been benefiting off us. This could be history for this company going Black-owned.”
Master P is also looking to reinvest in communities that helped thrust Reebok to success in the first place. “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,” the entrepreneur told Forbes.
Master P’s investment portfolio spans areas that include media, technology, sports, music, and his latest endeavor with Uncle P food products, so it came as no surprise to fans on social media that he wanted to buy Reebok.
One Twitter user wrote, “Master P sold crack, rapped and sold a 100 million records, played in the NBA, and now he and Baron Davis are about to buy Reebok. We need his biopic.”
“Master P comes around every couple months and reminds us he’s a lot more wealthy than we think he is,” a second person expressed.
Meanwhile, other people already promised to show their support if all goes through, including another Twitter user who wrote, “If Master P buying Reebok. Guess who wearing Reebok.”
Despite the buzz this week’s speculation generated, it would still be a bit of a task to get the brand to its former self. Forbes reported that sales for the company dropped 44% in the second quarter of 2020. Adidas has not commented on this week’s sale rumors.