Pro Basketball Hall of Famer Julius Erving sold majority rights to his name and image to Authentic Brands Group on Tuesday.
Terms of the deal were not disclosed, but sources say that Erving will get an upfront guarantee as well as royalties associated with the deal.
As part of the contract, ABG has filed for the trademark to “Dr. J” as well as Erving’s signature in the US and in various countries.
ABG president and chief marketing officer Nick Woodhouse said the company will use Erving’s name and image to expand into luxury, travel and corporate partnerships as well as do licensing deals and merchandise his name.
It’s the second deal made in the past few months by ABG, who structured a similar deal with Shaquille O’Neal earlier this year. ABG also controls the licensing rights to Muhammad Ali, Marilyn Monroe and Elvis Presley and owns sports brands including Prince, Spyder, Tapout and Tretorn.
“Paul is not going to be in a lot of highlights, but when you watch how he played, and fundamentally how well he played, I think that’s actually what kids should really watch, is how he did it without using his athleticism that he actually has,” Rivers said.
Pierce has averaged 20.6 points and 5.7 rebounds per game in his career. After his Boston tenure, he spent one season with the Brooklyn Nets, another with the Washington Wizards and last year with the Clippers. He averaged 6.1 points and 2.7 rebounds per game last season.
“With the Clippers, in the city where I grew up, I feel like I have that opportunity on a great team,” Pierce wrote Monday. “We’re hungry. We want to win a championship.
“After 18 NBA years, it’s hard to believe I’ll be playing in each arena for the last time. So I’m going to enjoy every practice, every bus ride, every team dinner, every time running out through the tunnel. I’m going to do my part to give us a shot at the ultimate goal.”
Pierce was the No. 10 pick out of Kansas in the 1998 NBA draft. The 10-time All-Star is currently 16th on the NBA all-time scoring list with 26,316 points.
“I’ve been in the NBA 18 years, but I’ve been playing basketball, like, 30 years,” Pierce said Monday. “It’s hard to walk away from that, but like most homes, you get that 30-year mortgage. I’ve paid it off, so it’s time to ride off into the sunset.”