LeBron James’ Polymarket deal brings in $15M. Image via: Allen J. Schaben / Los Angeles Times via Getty Images
LeBron James Secures $15 Million Annual Deal with Polymarket
LeBron James has entered a lucrative partnership with the prediction-market platform Polymarket, earning $15 million annually. This deal surpasses his salary with the Philadelphia 76ers, highlighting its significance in the sports business landscape. As a four-time NBA champion, James’s new arrangement has become a focal point of discussion during the offseason, particularly in comparisons to his playing contract.
The figures, first reported by Front Office Sports, put James well ahead of his $3.8 million salary for the coming season. The theory doesn’t hold up well on its own, since James still took a pay cut to sign a two-year, $8 million deal with Philadelphia. He’s now an investor in Mike’s Red Tacos, a Southern California birria chain that started as a single San Diego food truck in 2021 and has grown into one of the region’s most talked-about fast-casual concepts. Join conversation Share your thoughts in the comments Be respectful · TOI community guidelines The company is preparing to open its first Los Angeles-area location in Pasadena and has already signed development agreements for more than 300 franchise locations nationwide. James joins through Main Street Advisors, the investment group he’s used for previous restaurant bets, including an early stake in Blaze Pizza and backing for Dave’s Hot Chicken, which sold to Roark Capital last year for roughly $1 billion.
The timing has also reignited chatter about why he passed on other suitors this summer, including a team that reportedly couldn’t match the same financial flexibility. LeBron James appeared in a Polymarket endorsement video alongside Derek Jeter and Eli Manning, plus a lineup of celebrities including Spike Lee, Reggie Bush and Alexandra Daddario. The campaign raised eyebrows given his past comments on gambling, and Polymarket later clarified his role would center on football, not basketball, since his DraftKings deal had just expired. Front Office Sports’ Ryan Glasspiegel and Ben Horney broke down the numbers this week, reporting that James “will make more money from his Polymarket partnership than from playing for the 76ers. He’s an endorser rather than an investor, and the length of the agreement wasn’t disclosed, though sources described it as an ongoing arrangement involving social posts and other content. Jeter and Manning, by comparison, are reportedly earning smaller fees. Some fans have tied the deal to James skipping the Minnesota Timberwolves in free agency, since the state has moved to restrict prediction markets. The Timberwolves’ tighter cap situation looks like the bigger factor in that decision. Away from basketball, James has added another name to his business portfolio. Mike’s Red Tacos is led by CEO Andrew Feghali and chairman Bill Phelps, both of whom helped build Dave’s into a national chain, alongside founder Mike Touma. James has long been vocal about his love of Taco Tuesday, and this investment turns that public enthusiasm into an actual stake in the business. Between the two deals, James is proving his post-Lakers chapter isn’t just about where he plays. It’s also about where he puts his money, and right now, tacos and prediction markets both seem to be paying off better than expected. Get the latest Sports News and Live updates. Download the TOI app.