Rap Mogul Percy "Master P" Miller and former NBA All-Star Baron Davis are coming together to purchase Reebok. Talking with ESPN, Master P said it's time to make a major footwear brand black-owned, because they've benefited off the black community for years.
According to Forbes, Reebok has been losing money lately, and parent company Adidas has been looking to part ways with the company. Reebok has partnered with many hip-hop acts including Kendrick Lamar, Rick Ross and most recently Beyoncé.
P told Forbes that he is focused on putting "money back into the community that built [Reebok].” Adidas bought Reebok back in 2005 for $3.8 billion; they are now looking to sell the company for $2.4 billion.
Hopefully Master P and Baron can come out as the top bidders for the company. There are other venture capitalist that are also looking to buy, so there is some competition to buy the struggling shoe company.
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