"We've decided to end our formal business relationship with Johnny," said James' associate Maverick Carter, who operates LRMR. "I will continue to support and advise him as a friend, however, because Johnny needs to focus on personal growth, the next phase of his career and because LRMR continues to expand beyond marketing, we made the mutual decision that it was best to terminate our business relationship."
The move, which was reportedly expected to be made eventually as James' company shifts its focus, comes on the heels of a weekend in which Manziel was reportedly spotted partying in Las Vegas with rumors indicating he was seen wearing a blonde wig and fake mustache, using the alias "Billy."
Earlier Wednesday, James said he was concerned for Manziel.
"I don't know all the details on it, I really kind of even haven't been all up on it, but I've heard a little bit of it and it's just a distraction for not only himself but for everyone that's around him, including family, people that represent him, the people around him," James said. He'll figure it out at some point, we all hope."
Manziel may be on his way out of Cleveland, and while the two may still have a personal relationship, he and James will no longer share business connections as the former Heisman Trophy winner enters a key phase in his career.