Nike Inc. and Cleveland Cavaliers' star LeBron James are once again working on creating a new shoe - the Nike Air Max LeBron VII. On August 7th at 12:00pm, an event will be held in Akron, OH to discuss their latest collaboration.

The event will be held in Akron at the Community Center, where LeBron played basketball during his childhood. Hosting the event will be Kenan Thompson, a comedian. Nike designer Jason Petrie will also be on hand to discuss the Nike Air Max LeBron VII.

The Nike Air Max LeBron VII, which is likely to become available in a variety of colors and editions, will be unveiled at the event. Unlike previous Nike LeBron shoes, which were from the Nike Zoom family, the new shoes will come with a full Max Air cushioning system. The LeBron Zoom line appears to have now been retired.

Ohioans won't be the only ones privy to watching the event; the entire world will be able to get a glimpse as the event will be broadcast live over the web. LeBron will also take questions from viewers in real time. To view the webcast, you'll need to register in advance at Nike's Media-Only website.