After Suffering $15 Million Loss From McDonald’s Snub, Billionaire Lebron James Faces Another Major Setback in Business Life

LeBron James became the first active NBA player to become a billionaire. With 4 championships and 4 MVPs, his dominance in the game speaks to itself. Like many other athletes, he is a successful businessman, with a portfolio of investments, including real estate, production companies, and his own clothing line.

However, Bron has recently faced a setback in one of his ventures. In 2015, he ended his contract deal for endorsing McDonald’s, which reportedly cost him $15 million. He ended the partnership to focus on his own food chain Blaze Pizza. And now, Blaze Pizza has hit a loss. 

LeBron James’ lost partnership  

LeBron James’ career off the basketball court centered around a whole slew of endorsements. Some made sense, like his work with Nike. Others, like his multi-million dollar deal with McDonald’s, made about as much sense as a Big Mac without the Big Mac sauce.

In 2010, James shared his excitement for the partnership with McDonald, explaining that the two “share some of the same core values”. However, in early 2015, the deal landed in hot waters. Later it was reported that Bron was willingly breaking his deal with Ronald McDonald as the contract required him to be the franchise’s face. 

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James left a whopping $15 million behind when he ended his contract with McDonald’s. He said that he is happy with his decision, and believes that it will pay off in the long run.

Setback to The King’s Pizza

In 2012, James was one of the first believers in Blaze Pizza, after investing a quick million in the build-your-own pizza chain. For a few years, James juggled his work with McDonald’s with his faith in Blaze. He even opened up two franchise locations of his own. Comparatively, James’ deal with Blaze appears a lot more authentic than his work with McDonald’s. While McDonald’s continues to make international headlines for its sugar-laden shakes and calorie-packed combo meals, Blaze has promoted its relatively low-calorie and balanced options.

However, even this partnership has faced setbacks. The pizza place in Berkeley, which was opened in early 2021, has been shut down. The company website says the Berkeley spot has closed permanently. 

The closure of a branch is a blow to the growing food chain. Blaze Pizza has been expanding rapidly in recent years and it already has over 300 locations in the United States. The restaurant was not profitable, and it is planning to open hundreds more in the coming years. The reasons for the shutdown are not clear. However, it is possible that the restaurant was not profitable. The Berkeley area is a competitive market for pizza restaurants with many popular chains in the area.

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However, The King has shown his resilience time and again, making his fans reckon that he will easily bounce back from this setback.