LeBron James just signed the biggest endorsement deal in Nike history

Nike has signed LeBron James to a lifetime deal, ESPN's Darren Rovell reports.

The contract is the largest single-athlete deal in Nike's 44-year history. It also marks the first time that Nike has officially given a lifetime deal.

James, who is 30 and entering a new phase of his career, signed a seven-year, $90 million contract with Nike before he was drafted by the Cavaliers in 2003. In 2010, James resigned with Nike and reportedly earned as much as $30 million annually.

James has had his own signature shoe line with Nike since his rookie season, and sales of his shoe were the highest among active players at $340 million per year, according to SportsOneSource (via Forbes).

As Fortune's Daniel Roberts notes, James' deal with Nike is the latest in a series of successful business ventures. Last week, he landed a $15.8 million investment from Time Warner Cable in his media company.