Will Kevin Durant ditch Nike for Under Armour?
According to ESPN.com, KD’s management Roc Nation Sports informed Nike on Wednesday (Aug. 20) that Under Armour has offered the NBA star a deal worth between $265 million and $285 million over 10 years — including stock and other incentives, such a community center built in his mother’s name.
Nike, who’s signature line with Durant generaed $175 million last season, has the right to match. If they do, he cannot legally choose Under Armour.
ESPN’s report says Nike’s last offer to Durant fives him a base and a minimum royalty guarantee equaling no less than $20 million a year.
However, with Under Armour, he’d land the largest sponsorship deal the company has ever committed to. The average of $26.5 million to $28.5 million to Durant equates to the brand devoting nearly 10 percent of its current annual marketing budget on him.
The potential move would be surprising for Durant, who has been loyal to Nike. Before playing his first NBA game, he wanted to sign with Nike badly enough that he agreed to a $60 million contract with the brand in 2007, $20 million less than what Adidas had offered.