Both Forbes and ESPN initially reported that the two are currently in negotiations with Reebok’s parent company, Adidas, to acquire the sporting brand currently on sale for $2.4 billion.
Via Eric Woodyard, NBA reporter for ESPN, Master P is looking to return Reebok to its glory days, starting with Allen Iverson, who made the brand widely popular in the early 2000s with his Iverson sneakers by Reebok.
“Allen Iverson is Jordan for Reebok. Nobody never gave him the royalties or ownership as the icon for the brand,” Master P said.
Master P, whose real name is Percy Miller, is said to have a net worth of $200 million. The 53-year-old amassed a large portion of his fortune after founding No Limit Records in 1991. He also spent a short time in the NBA, playing for both the Charlotte Hornets and Toronto Raptors during the 1998 and 1999 pre-season. P also helped to found the popular snack company, Rap Snacks, nearly 30 years ago.
Davis spent 15 seasons playing in the NBA, where he spent time on several teams, including the Los Angeles Clippers and Golden State Warriors. The 41-year-old currently works as a studio analyst for Turner Network Television’s coverage of the NBA. His net worth is said to be somewhere around $60 million.
There is no indication when and if a decision will be reached any time soon. However, the deal would mark a landmark collaboration between hip-hop and sporting goods.