James, Olbermann have cases of second thoughts
LeBron James is ending his corporate partnership with McDonald's.
(McDonald's)
CLEVELAND, Ohio - LeBron James' business relationship with McDonald's is coming to an end so he can become a marketing partner of a growing pizza franchise in which he is a partial owner.
James is throwing his name and sponsorship to Blaze, a Chipotle-style, assembly-line pizza restaurant, and acquired franchise rights for restaurants in Miami and Chicago.
To participate in a marketing campaign for Blaze, James had to end his relationship with McDonald's, a source said.
But Lisa McComb, a spokeswoman for McDonald's, said the decision to end the relationship with James was "mutual" between the Cavs' superstar and the fast-food giant.
James, an original investor in Blaze in 2012 along with previous business partners Paul Wachter, and Boston Red Sox Chairman Tom Werner, as well as Maria Shriver and film producer John Davis, now owns more than 10 percent of the restaurant company, according to a source. The financial terms of James' new arrangement with Blaze were not available. McDonald's paid James millions to endorse its food.
"Blaze Pizza isn't your typical pizza chain," James said in a news release announcing the partnership. "Their model is literally changing the future of the fast casual industry altogether. I initially invested in this company because I knew it was a special idea that offered something people would want. Now I'm excited to go all in with Blaze Pizza in this new role and continue to give people a whole new experience."
Blaze co-founder Rick Wetzel said "this deal is extremely meaningful to us because LeBron has been by our side since the day we started, and we're excited to continue to change the industry with his help.
"LeBron is the perfect ambassador for our brand because he embodies everything Blaze Pizza stands for," Wetzel said. "In everything he does, he is authentic and totally unique."
James' marketing pitch for Blaze will include a significant push on social media. James didn't waste any time, tweeting to his more than 24 million followers on Thursday morning about his new partnership.
James' increased commitment to Blaze is a sign of confidence in his original investment, according to a source, and not a result of any souring of the relationship James had with McDonald's.
In February, James made a disparaging remark about the fast-food giant when he said "I ate McDonald's my first couple years in the NBA" to illustrate his point that he didn't take good care of his body as a rookie.
"We have enjoyed watching LeBron James grow from a McDonald's All-American to a world-class champion and businessman," said McComb, McDonald's spokeswoman. "We greatly appreciate the exciting experiences and engagement he's provided McDonald's customers and his support of Ronald McDonald House Charities over the past several years. While the parties mutually decided to end the relationship, we wish him the best in his future endeavors."
There are 88 Blaze locations, with two in Ohio - in Columbus and Mason. James and the Cavaliers will be in Columbus Monday when the Cavs host the Grizzlies for a preseason game at Ohio State.