Reigning NBA MVP and NBA champion LeBron James’ new signature sneaker will cost you three bills (with Ben Franklin in the portrait) and change. Yep, the new Nike LeBron X, which King James rocked for the first time during Team USA’s gold medal game and drops this fall, will hit retail for a cool $315. Blame cool new bell & whistles and slumping profits for the hefty price tag. Reports the Wall Street Journal:

Analysts expect that this 10th LeBron shoe will retail for around $315. The first edition, modeled after basketball star LeBron James, the Nike Zoom Generation, retailed for around $110 in 2003; the ninth edition retails for around $250.

The price leaps come after Nike’s gross margins dropped to 42.8% from 44.3% in its most recent quarter ending May 31, the sixth-straight year-to-year quarterly decline. Nike’s margins are now lower than most of its direct competitors, rival Adidas AG ADS.XE 0.00% and apparel maker Under Armour Inc.