It’s official—PepsiCo has poached LeBron James from Coca-Cola Co. 

The basketball megastar will be the face of the new Mtn Dew Rise Energy drink as part of a larger endorsement deal that will include other brands across PepsiCo’s food and beverage lineup, as well as social justice endeavors, the company confirmed today.

Coca-Cola Co. said in January that it had parted ways with James, ending a relationship that began in 2003 when he was 18-years-old. Pepsi had declined to comment on reports that it landed the star, until today, when it outlined the relationship. The company did not disclose financial terms of the multiyear deal, but James is known to command top dollar. He ranks No. 3 on the list of  the “world’s 50 most marketable athletes” compiled late last year by Nielsen, trailing only international soccer stars Lionel Messi and Cristiano Ronaldo.

Pepsi is inking James as it seeks a bigger slice of the energy drink market, which grew 7% by dollar sales in 2020, according to Beverage Digest. Monster and Red Bull continue to dominate, with 33% and 24% share by volume respectively, according to Beverage Digest. But Coca-Cola Co. and PepsiCo have spent more money on marketing and product development in recent years in hopes of gaining ground. Coca-Cola introduced Coke Energy last year—with roughly three times the caffeine of regular Coke—and backed it with a Super Bowl ad. 

For PepsiCo, Mtn Dew Rise is “a big bet for them and with a big bet you want a big personality to help sell that to consumers—and that is what they are doing with LeBron,” says Beverage Digest Editor and Publisher Duane Stanford.

Rise is positioned as a morning drink. It has 180 mg of caffeine, vitamins A and C, as well as fruit juice and Citicoline, a dietary supplement that has been used to improve brain function. Flavors include Pomegranate Blue Burst, Orange Breeze, Strawberry Melon Spark, Tropical Sunrise, Berry Blitz and Peach Mango Dawn.

Cans feature a lion—described by PepsiCo as “a king with a fierce inner spirit”—as part of a visual identity created by PepsiCo's in-house design team. The brand released a promotional video today showing James’ face emerging from the lion image. A larger brand campaign is expected later this year from Mtn Dew agency TBWA\Chiat\Day New York.

“As energy beverages evolve to provide even more functional benefits, we're excited to introduce the new Mtn Dew Rise Energy for those looking for a morning boost with enhanced mental clarity and immune support that helps you conquer the morning to conquer the day,” Fabiola Torres, PepsiCo’s chief marketing officer and senior VP for its energy category, said in a statement. “LeBron is the epitome of motivation and has achieved legendary status by seizing every morning. He not only continues to excel on and off the court but has dedicated his life to help others rise as well.”

PepsiCo also seems poised to use LeBron’s standing in the sports world and beyond to boost its community service efforts, especially those related to diversity. In its press release announcing the signing of James, PepsiCo stated the deal will “touch on numerous aspects of James' wide-ranging work,” while referencing the company’s pledge last year to invest more than $400 million over five years in Black-owned businesses and in Black communities as well as to “increase Black representation at PepsiCo.”

“LeBron is arguably the most influential celebrity in the galaxy right now. He dominates on the court, has a thriving enterprise, puts his family first, and is committed to social change and making a positive impact on communities,” Adam Harter, PepsiCo’s senior VP for media, sports and entertainment, said in a statement. “He is not only going to be an incredible brand partner to Mtn Dew Rise Energy, but we also look forward to the collective impact we can make on the people we serve through education, social justice and community initiatives.”

James in a statement said: “It's important to me that I believe in the brands and products where I invest my time. When I first learned about the message behind the drink—the fact that every day is a chance to rise for all of us—that really resonated with me.”

Hear more about energy drink trends at “Ad Age Next: Food and Beverage” virtual event on March 23. Register here.