CBS' "60 Minutes" Profiles LeBron James And His Business Ventures

Harvard Business School Has Called James "Third Biggest Name In The Sports World"

Cavaliers F LeBron James earned $40M last year, and the Harvard Business School has called James the "third biggest name in the sports world" behind golfer Tiger Woods and Galaxy MF David Beckham, according to Steve Kroft of CBS' "60 Minutes." James previously has intimated his desire to be the "first billion dollar sports brand," and Kroft asked, "What do people get when they buy into the LeBron James brand?” James: "You get me. It’s all real. I’m just 6’ 9" and 260 and just so happen to be very good at playing the game of basketball.” Kroft noted when James entered the NBA in '03, he signed a seven-year, $90M endorsement deal with Nike, the “most ever paid to a basketball player,” and “another lucrative contract with Coca-Cola laid the foundation for what LeBron hopes will become a billion dollar business empire.” James in '05 formed LRMR Marketing, and Kroft said he "took one of his biggest risks ever, deciding he wanted to control his own image, not just appear in other people’s commercials." Kroft noted James "stunned the sports world" when he fired agent Aaron Goodwin to start LRMR with "some of his childhood buddies from Akron." Kroft: "They’ve been smart enough to surround themselves with some very good talent ... (and) it’s won them credibility and respect in the sports business world.” Kroft asked, “Why is it so important for you to become successful in another area?” James: “God gave me a gift to do other things besides play the game of basketball" ("60 Minutes," CBS, 3/29).

UNDER REVIEW: In Cleveland, Mary Schmitt Boyer writes while the "60 Minutes" feature "presented a favorable view of the Cavs star and all he has accomplished in the worlds of sports and business, it certainly didn't break any new ground and lacked any real depth." Either Kroft "didn't ask many probing questions of James or the Cavs star deflected them so adroitly that the footage was useless" (Cleveland PLAIN DEALER, 3/30). Kevin Sullivan Communications Founder Kevin Sullivan writes James made it through the interview "smoothly" and that he "nailed it like a wide-open jumper." He showed humility and personality, as he "frequently flashed his high-wattage smile." He also "showed depth," noting that you "have to be able to accept failure to get better" (KSULLIVANCOMMUNICATIONS.com, 3/30).

THE KING: CBSSPORTS.com's Ken Berger wrote if James is "happy spending his entire basketball career being 'the next Michael,' then James would only need to keep doing what he's doing" with no need to "take risks or try anything different." But if he "wants to eclipse Jordan, LeBron is going to have to take chances." China is the "one frontier Jordan didn't fully explore," and it is "ready and willing for [James] to claim as his own." If he "seizes the opportunity, LeBron could become as popular in China as Yao Ming by the end of the decade" (CBSSPORTS.com, 3/29).