7,500 pairs of LeBron Nikes stolen

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He just did it.

A Memphis man has been charged with theft of property after driving away with a truck full of 7,500 pairs of the newest LeBron 12 Nike shoes with a retail value of approximately $1.5 million.

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AP Photo/Steve DykesA man was charged with theft after driving away with a truck full of 7,500 pairs of the newest LeBron 12 Nike shoes, which combined have a retail value of approximately $1.5 million.

In early November, police say Charles Jennings, an employee of cargo transportation company Intermodal Cartage Group, used his ID card to get into a secure lot and drive away with the valuable shoes.

Details of the story went public Monday when Jennings appeared in court. Mark Dunbar, assistant chief of the Shelby County Sheriff's Office, said Jennings will next appear in court after the new year. He is currently free on $75,000 bond.

Intermodal Cartage Group reported that the truck was missing, and when a tip of its whereabouts was confirmed, the Memphis Auto Cargo Task Force -- which includes the FBI office -- swung into action to recover the vehicle and arrest Jennings on Nov. 14.

"He had a pretty good idea what he had," Dunbar said. "They were Nikes and they were more valuable in that they hadn't been released yet."

The first colorway of the LeBron 12 shoes were supposed to hit the market Oct. 11 in the United States, but a cosmetic issue delayed the launch.

Jennings had been selling the shoes for about a week, and when members of the task force found the stolen loot, some 700 pairs were missing.

The declared value of the merchandise, $623,280, likely represents the value of the shoes bought by retailers ($83.10 a pair). Those retailers then sell the LeBron 12 in stores for $200.

In a recorded conversation upon his arrest, Jennings admitted to stealing the truck from Intermodal.

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Darren Rovell | email

ESPN.com Sports Business reporter

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• ESPN.com's sports business reporter since 2012; previously at ESPN from 2000-06
• Appears on SportsCenter, ESPN Radio, ESPN.com and with ABC News
• Formerly worked as analyst at CNBC