The first trailer for LeBron James' long-awaited Space Jam sequel, Space Jam: A New Legacy, is finally here. Warner Bros. Pictures shared the full-length preview over the weekend, awarding us with a look at the all-new Goon Squad that James and his ragtag Tune Squad will be suiting up against in the film.

To little surprise, the Space Jam 2 trailer also unofficially serves as a not-so-subtle Nike advertisement. The Swoosh properly left its mark on the two-plus-minute clip, which shows LeBron and his castmates rocking a slew of Nike gear, including never-before-seen sneakers.

Bleacher Report Kicks came through with the alley-oop to spotlight the Nike shoes featured in the Space Jam 2 trailer, as we see both real-life and animated models, ranging from Air Maxes to LeBron's signature line and beyond. Could this provide Nike with the perfect avenue to hop on the NFT train and release some virtual sneakers? We'll just have to wait and see.

As previously mentioned, the Space Jam 2 preview gives us our first look at the Goon Squad — formerly the Monstars in the original movie — that King James will be battling, à la Michael Jordan in Space Jam. Similar to 1996's Space Jam, the Good Squad is made up of professional hoopers, including Klay Thompson, Anthony Davis, Damian Lillard, Diana Taurasi, and Nneka Ogwumike. Thompson's Warriors teammate Draymond Green is also expected to appear in the movie.

One of the standout moments from the Space Jam 2 trailer comes when LeBron and Lola Bunny recreate the iconic Dwyane Wade to LeBron James dunk from 2010. You can peep the side-by-side comparison below.

Space Jam 2 — officially called Space Jam: A New Legacy — sees James being transported to a digital underworld, where he must then team up with the notoriously undisciplined Looney Tunes to take on the overpowering Good Squad and ultimately rescue his son and bring him back to Earth. Don Cheadle, Khris Davis, and Sonequa Martin-Green star alongside LeBron in the much-anticipated sequel, which is directed by Malcolm D. Lee and produced by a team that includes Ryan Coogler, Maverick Carter, Justin Lin, Duncan Henderson, and James.

You can watch the first official trailer for Space Jam: A New Legacy below. The film hits theaters and HBO Max on July 16.