SBD/Closing Bell

Sources: LeBron Gets Record Payout From Sale Of Beats To Apple

Sources said that Heat F LeBron James turned a profit of more than $30M in cash and stock as part of Apple's recent $3B purchase of Beats Electronics, marking the "biggest equity cash payout for a professional athlete in history." James "struck a deal to get a small stake in the company at its inception in 2008 in exchange for promoting its high-end headphones" (ESPN.com, 6/12). If the report is accurate, he would get $11M "more than he makes per year" in salary from the Heat (WASHINGTONPOST.com, 6/12).
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