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Cavaliers F LeBron James on Thursday announced that he "has signed a multi-year endorsement deal" with Blaze Fast-Fire'd Pizza, a "burgeoning build-your-own pizza chain," according to Craig Webb of the AKRON BEACON JOURNAL. James "is also an investor in the chain," along with journalist Maria Shriver, Red Sox Chair Tom Werner, film producer John Davis and Main Street Advisors Chair & CEO and "lead investor" Paul Wachter. James "became a silent investor in Blaze Pizza" in '12, but he now "plans to publicly expand his involvement through advertising, social media, in-store appearances and other promotions." Since its start in '12, the chain "now has 88 locations in 22 states." The company "plans to open one new restaurant about every four days -- with a milestone 200th location projected to open" in '16. James "is a franchisee in the Chicago and Miami markets," along with Levy Restaurants co-Founder & Chair Emeritus Larry Levy. James recently "parted ways" with McDonald's. Blaze Pizza "specializes in cooking thin-crust, 11-inch pizzas over an open flame in just 180 seconds" (
AKRON BEACON JOURNAL, 10/9). ESPN.com's Darren Rovell reported the deal "was put together" by Wachter, a business adviser of James. A source said that James owns more than 10% of Blaze, which is "separate from his stake in Chicago and Miami franchise rights" (
ESPN.com, 10/8).
IN IT FOR THE LONG-HAUL: BLOOMBERG NEWS' Craig Giammona noted James' deal is part of a "growing trend of elite athletes and entertainers who don’t want to be just pitchmen any more." There was a time when a star as big as James "would have stuck with large, deep-pocketed companies" like McDonald’s, and "plenty still do." But by "casting his lot with Blaze, James can also boost the value of the equity investment." Brand consultancy Landor Associates North American Chair Allen Adamson said that because James has a financial stake, he "may be an even more effective" spokesperson. USC Sports Business Institute Exec Dir David Carter said that prominent athletes "can use their star power, particularly on social media, to shape the companies they back." He added that they are "more willing to pass up endorsement cash to gamble on a long-term payoff." Carter: "A guy like LeBron can move the needle with a company like that. He’s a powerful brand ambassador and he has the megaphone of social media. That’s a dramatic shift" (BLOOMBERG NEWS, 10/9).
