LAS VEGAS — The Los Angeles Lakers and FedEx Corp. on Wednesday traded about $100 million in unsold inventory of used sneakers, jerseys and apparel.
In exchange for FedEx shipping its used items to the Lakers, the Lakers and the company agreed to pay FedEx $75 million in revenue from 2015 to 2023.
That includes $50 million to offset the $10 million cost of the Nike and Adidas shoes and apparel sales tax the Lakers will pay on its purchases.
The deal gives FedEx a foothold in a global market that has been plagued by the spread of counterfeit goods, according to the company.
FedEx has been forced to spend $1 billion to fight the spread, with the Lakers being one of its most important customers.
Lakers president Jeanie Buss said the trade was in line with the team’s efforts to become more environmentally conscious.
“It’s very much in line in our long-term sustainability goals, which include reducing our greenhouse gas emissions,” she said.
The Lakers’ deal was not a surprise to FedEx, which has been working to diversify its retail business.
FedEx already offers shipping services to the NBA, NCAA and NHL.
The Lakers deal will help the Lakers sell more jerseys and sneakers.
The new trade comes after the Lakers moved to reduce their footprint at the Staples Center, the home of the NBA’s Los Angeles Kings.
FedEx is working with the city and the team to create a new location at the center, which will be a destination for more local businesses.
The L.A. Lakers were among several NBA teams to sign apparel deals with Nike and others during the offseason, including the New Orleans Pelicans, Minnesota Timberwolves and Cleveland Cavaliers.