Rapper Master P is interested in buying the sporting goods company and sneaker brand Reebok, and his marketing plan includes making Iverson the Michael Jordan of Reebok.
Reebok is currently on sale, parent company Adidas Group confirmed last month.
Since then, rapper Percy Miller—aka Master P—and retired NBA player Baron Davis are among the last prospective buyers.
Adidas acquired Reebok back in 2006 for $3.8 billion. However, after 14 years of ownership, it has been struggling to keep the brand in business.
For the last few years, Reebok has shown a downward income trend, which is the reason for the sale. And Adidas said it would announce the final buyer sometime in March.
Master P already launched one sneaker brand, Moneyatti, in 2018.
He believes he can 'revamp' Reebok and that majority Black ownership could make the brand cool again.
And if he succeeds in obtaining the brand, he aims to put Allen Iverson front and center.
"The way we look at Michael Jordan for Nike (NKE), we look at Allen Iverson that way in Reebok."
"We need to bring him to the forefront. [We] need to bring in better designers. We also need to make this for the millennials. And I think that would be a game changer."
Iverson, whose final NBA game was in early 2010—though he didn't retire until 2013—has had a signature shoe deal with Reebok since 1996.
And building a shoe brand on the shoulders of Iverson in 2021 might increase sales.
The face of Reebok will not be without its own challenges, as Iverson may appeal only to a certain generation of fans.
This is because the majority of the younger generation might not know him.
Iverson is an NBA Hall of Famer and was the league MVP in 2001. But he never won a ring and hasn't played in 11 years.
In addition, there's a broader market context that might make it a challenge for Master P to market Iverson.
The basketball sneaker category has been in decline for five straight years. Today, the category represents only 3 percent of all athletic shoe sales.
But according to Master P, the retro basketball shoe business is 'great right now.'
If he and Reebok can put out appealing Iverson retro sneakers, they might just revive the brand.