Who is Percy 'Master P' Miller? Rapper set to acquire Reebok with ex-NBA guard Baron Davis
Hip-hop mogul and basketball veteran Master P, whose real name is Percy Robert Miller, is all set to ink a new business deal where he will be the bossman of retail giant Reebok. Adidas, who bought the company in 2005, is looking to offload its household brand and Master P along with former NBA All-Star Baron Davis are going to be the new owners of the same.
What is the deal about?
According to Forbes, the acquisition deal will come around $2.4 billion. Adidas had bought Reebok with an intention to take on its arch-rival Nike but failed to do so and unfortunately, Reebok also struggled to cement its position in the market. According to Forbes, reports of Adidas looking to shed Reebok for $3.8 billion started doing the rounds on the Internet in late October. However, in 2019, Adidas wrote down Reebok’s book value by nearly half compared with 2018, to $995 million.