Cavs' Isaac Okoro Signs Footwear Deal With Company Equity
On Friday morning, Isaac Okoro joined his teammate Darius Garland as the second Cleveland Cavaliers player to ink a brand-new shoe deal in the last month.
Okoro and HOLO Footwear announced their partnership on Instagram with a reel. Not only will "Ice" be rocking the shoes, but he'll also have equity in the company and be able to design his own kicks.
Dec 18, 2023; Cleveland, Ohio, USA; Houston Rockets guard Jalen Green (4) defends Cleveland Cavaliers forward Isaac Okoro (35) in the second quarter at Rocket Mortgage FieldHouse.
David Richard-USA TODAY Sports
In an interview with Forbes Sports reporter Mat Issa, Okoro explained why HOLO is a good fit for him.
I’ve always dreamed about being able to have and create my own shoe, so being able to be in that position right now is truly a blessing. Also, having equity in the company makes it 10-times better as it provides me with an actual seat at the table, which is unique in today’s day and age.
My goal for HOLO moving forward is to make it one of the biggest companies in the sneaker industry. I want HOLO to be a household name and be at the intersection of sports, business, performance and culture. My goal is for people to want and like to wear HOLO shoes.
According to Issa, Okoro's representation at Young Money APAA Sports and Omar Cooper of LifeStyle Sports Agency negotiated the deal with HOLO. In addition to the equity, Okoro is set to receive "a multi-million dollar base compensation and royalties on each shoe that is sold that is part of his signature line." Okoro commented:
I feel like this shows that it’s not only important to have a base salary, but it’s also important to fight for getting equity and ownership in a company because it can create generational wealth.
In addition to the good news, Okoro is in the midst of a four-game stretch where he's averaging 12.5 points, 4.8 rebounds and 4.5 assists in over 30 minutes per game on .576/.500/.500 shooting splits.
Congratulations on the deal, Ice!
