Master P in Talks to Buy Reebok for $2.4 Billion With Former NBA Player Baron Davis: Report
Master P has apparently teamed up with former NBA All-Star player Baron Davis in the hopes of purchasing an iconic shoe brand, and it could cost them over $2 billion.
On Monday (Dec. 28), Forbes reported that P and Baron Davis are looking to acquire Reebok from Adidas, which bought Reebok 15 years ago. The reported asking price for Reebok is $2.4 billion.
Master P, who has a diverse portfolio of investments and helped found Rap Snacks almost 30 years ago, says he is looking to reinvest in communities that helped propel Reebok to success in the first place.
"As we focus on turning Reebok into a lifestyle brand not just a basketball brand, our most important initiative will be to put money back into the community that built this company," P told Forbes.
P and Davis plan to give smaller shoe companies a chance to be distributed by Reebok and offer more African Americans a chance to own a piece of the "athletic footwear and apparel pie."
In a statement to XXL, Davis confirms his pursuit of Reebok while acknowledging the opportunities the acquisition could provide.
"It’s a golden opportunity to move our culture forward in ownership and opportunity," he says. "We want to own shit now and, Master P and I, we want our brothers and sisters in this deal and a seat at the table."
If Master P and Davis are able to acquire Reebok, they could be facing an uphill battle trying to make the brand as successful as it was before. According to Forbes, sales for the brand dropped 44 percent in the second quarter of 2020.
Based on other sources who spoke to Forbes, Adidas is looking to finalize Reebok's sale by March.
XXL has reached out to Master P, Baron Davis, Adidas and Reebok for comment.
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