text:  Even though academic researchers are skeptical of the power of celebrity endorsement, the practice rolls on despite the significant cost to the firms. LeBron James signed a lifetime deal with Nike that could pay out an estimated $1 billion. Taylor Swift has endorsed Diet Coke, Apple Music, Keds, AT&T, CoverGirl, and she reportedly almost reached an agreement to endorse the cryptocurrency exchange FTX for a reported $100 million.