Cleveland Hustles: The Hustle Continues

LeBron James' business manager Maverick Carter reveals his top-3 negotiating tips

Maverick Carter knows a thing or two about negotiating.

After all, he's the man behind LeBron James' billion-dollar Nike contract, the largest celebrity apparel deal ever.

CNBC sat down with the basketball legend's business manager and longtime friend from Akron, Ohio, and asked about his negotiating strategies.

When you walk into a room to make a deal, you should be clear on three things, Carter said.

Maverick Carter (L) and Warren Buffett joke around courtside with Buffett's wallet.
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Maverick Carter (L) and Warren Buffett joke around courtside with Buffett's wallet.

First, he said, you have to know exactly what you want "and be able to clearly articulate those things so the room and anyone who's in the room can understand it."

Second, you have to know exactly what the other person wants. "You have to know what they want, what they need, and what's most important to them," said Carter. "And you have to know that before you walk in the room you have to not be guessing at that."

Finally, he said, "you have to understand that every negotiation isn't about taking everything off the table."

"It's cliche, but you have to try and make sure the other side feels good and you feel good. Because in my business, when I make a deal, it just means once we're done negotiating, we have to go off and work together. So I don't want the other side being all p----d off at me."