‘These companies have been benefiting off us’: Rap mogul and ex-NBA star in talks to acquire Reebok

Entrepreneur turned hip-hop mogul Percy “Master P” Miller and former NBA All-Star Baron Davis are in talks to acquire an athletic-wear company that has long profited off of Black entertainers and athletes popularizing the brand. That company, Reebok, which is owned by Adidas, is valued at around $2.4 billion. Miller told ESPN he and Davis are “prepared financially” after months of negotiations with the business. “These companies have been benefiting off us. This could be history for this company going Black-owned,” Miller told ESPN.

Investors have been urging Adidas to unload Reebok, which has struggled to stay relevant even amid the resurgence in popularity of brands like Adidas, Forbes reported. “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.”