Report: Rapper, Former NBA Star Want to Acquire Reebok
Adidas, aiming to divest the Reebok business it acquired 15 years ago for $3.8 billion, has at least one suitor group interested in the Vector brand. The Three Stripes has said it will formally announce its plans for Reebok by March 10.
New Orleans-based rapper/businessman Percy “Master P” Miller and former NBA player Baron Davis lead a group that is interested in acquiring the Reebok business, according to a Yahoo Finance story last week. Miller already has a sneaker brand called MoneYatti that he would fold into Reebok if his group is the winning bidder.
“This is not about a Black thing,” he told the website. “It’s about empowering people because it’s not going to just be an African-American business, but I’m just saying the majority ownership should be African-American. I think that we could turn this company around.”