Coca-Cola Brands Rebound with LeBron James

Coca-Cola has tapped basketball star LeBron James as spokesperson for its Powerade and Sprite brands in a new six-year marketing deal.

James will serve as spokesperson for Sprite's "Obey Your Thirst" campaign. The deals with both Sprite and Powerade will include promotions, advertising, and live appearances. Terms of the agreement were not disclosed.

Gatorade had been vying for rights to James, who as the number one NBA draft pick this year, could fill the gap Michael Jordan left, not only on the court but in the marketing arena.

This spring, Nike beat out Reebok International and Adidas-Salomon for James, signing him to a seven-year, $90 million deal (Xtra, May 28).

Signing James was a timely catch for both Sprite and Nike, who had marketing agreements with NBA star Kobe Bryant, who is charged with sexual assault in Colorado. Sprite has shelved ads featuring Bryant, and Nike, which signed Bryant to a reported five-year, $45 million contract just days before the accusations were made public, released a statement saying they were "pleased to have a relationship with the five-time All-Star," but have not used him in any promotions yet.