LeBron James is in no rush to decide which NBA team to sign with next. Meanwhile, James' business empire moves forward. A big part of the 41-year-old's portfolio is his lifetime contract with Nike. However, Nike has struggled over the past few years.James recently sat down with Rich Kleiman at the Game Plan Summit during Fanatics Fest. The entire episode of Boardroom Talks from Game Plan, presented by CNBC Sport x Boardroom, is on YouTube. But the most intriguing part of the conversation was James' advice for Nike on fixing its problems.LeBron James' Advice for NikeLeBron James wears the Nike LeBron 15 "Griffey" colorway. | USA TODAY SportsKleiman asked James how Nike can fix its problems, ranging from a down stock price to its fading popularity. James took the pointed question head-on, "You got to get back into the roots," said James. "You got to get back to being out in the inner city. Having runners. How it was when I first... When I was coming up, you had people that was literally out in the communities talking to these younger generations, asking them what they like, what they don't like, how do they feel about this, how they feel about that. Like there's a responsibility as a Nike athlete to rule supreme.LeBron James wears the Nike LeBron 21 "Prime Year" colorway. | USA TODAY Sports via Reuters ConnectBecause that's all I grew up on. That's all I know. That's all I've been a part of for two decades, being a part of Nike. And there's a responsibility that I feel responsible for on making sure like we're not dwindling like it's it's always been a cool factor like to put on a pair of Nikes like that that when I made my decision at 17, while I wanted to be with Nike, the main reason was like what do I want to put on my feet when I leave my house every day."James concluded, "It was like that cool factor of what Deion Sanders brought to it, what Bo Jackson brought to it, what Barry Sanders brought to it, what Ken Griffey Jr. brought to the brand, you know, like all these unbelievable athletes. Obviously, MJ, like, come on. Like, it was such a cool factor. So can't lose our cool."LeBron James' Role with Nike BasketballLeBron James wears the Nike LeBron 16 "Dunkman" colorway. | USA TODAY SportsJames was one of the most coveted sneaker free agents during his senior year of high school. He turned down offers from Reebok and adidas to sign a seven-year, $87 million contract with Nike in May 2003. By 2010, James signed a nine-year contract extension. Before the contract extension ended, James and Nike agreed to a lifetime partnership worth $1 billion.James told Kleiman that he picked Nike because of the shoes he wanted to put on his feet every day. But in March 2025, James said on the Pat McAfee Show, "I signed with Nike because I got a hell of a signing bonus, and they gave me a seven-year, $90 million contract, and I moved my mom out of the hood the next day I signed that contract."LeBron James wears the Nike LeBron 23 "Cavs" colorway. | IMAGN IMAGES via Reuters ConnectJames has 23 signature basketball shoes, but his lifetime sneaker deal with Nike extends beyond the basketball court. The Nike LeBron line has extended to the football field. Plus, the LeBron James Innovation Center is at Nike's World Headquarters in Beaverton, Oregon. Even better, his oldest son and former teammate, Bronny James, is a Nike athlete with multiple player-exclusive colorways hitting shelves this year.Nike's ProblemsLeBron James wears the Nike LeBron 23 "Wheat" colorway. | IMAGN IMAGES via Reuters ConnectNike's problems go beyond a declining stock price and fading popularity. The iconic American sportswear brand is facing stiff competition from other companies, both domestically and internationally.Nike's problems go beyond a declining stock price. The iconic American sportswear brand is facing stiff competition from other companies, both domestically and internationally. Both former CEO John Donahoe and current CEO Elliott Hill (as of late 2024) have faced criticism over their business decisions.James no longer plays for the Los Angeles Lakers, but he is a Nike athlete for life. That means he has a vested interest in the company's success. It remains to be seen if Nike will take James' advice (or if it would even work). Stay locked into Sports Illustrated's Kicks On SI for all your footwear news from the NBA and beyond.Add us as a preferred source on GoogleFollow