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News broke earlier this week that LeBron James signed a lifetime contract with Nike, his home since he turned 18 years old, and we now have news that could make this deal sound even more fantastic. Sources say that the footwear and apparel company could have paid James a billion dollars to be a lifelong ambassador and contracted athlete for the company.

Sam Amick, a reporter for USA Today who happens to an NBA insider, too, reports that, “I’m told by person w/ knowledge of financials that estimates of between $400 & $500 million are significantly low.”

Amick goes on to say, “On annual earnings front, person w/ knowledge puts figure north of $30 million annually. It’s a lifetime deal, & he’s 30…years…old.”

It looks like King James is joining Michael Jordan and Tiger Woods on the short list of athletes that have earned a billion.