Durant Bypasses Larger Offer From adidas To Stick With Nike
 |
Durant Inks Seven-Year,
$60M Deal With Nike |
Sonics F Kevin Durant has signed a seven-year, $60M deal with Nike that included a $10M signing bonus, marking the "second-largest endorsement contract for an NBA rookie," according to Percy Allen of the SEATTLE TIMES. Durant's deal will include a signature shoe "that will be unveiled after his rookie season." Sources said that Durant "declined a seven-year, $70[M] deal with adidas that included a $12[M] signing bonus largely because he has a long history with Nike dating to the eighth grade" (SEATTLE TIMES, 7/18). Durant's agent, Aaron Goodwin, said, "After eight weeks of diligent work between [Nike Senior Dir of Pro Basketball] Lynn Merritt and I, we have structured a footwear and apparel deal for Kevin that becomes the second largest rookie deal in basketball and includes a line of signature products." CNBC.com's Darren Rovell wrote Durant going to Nike is "another loss for adidas," though the company has signed Grizzlies G Mike Conley Jr., Pistons G Rodney Stuckey and Lakers G Javaris Crittenton from this year's rookie class (CNBC.com, 7/17).
LOW TOPS? Durant said previously he wanted a mid-priced signature shoe, Knicks G Stephon Marbury, who markets a low-priced brand of shoes and apparel, wrote on his N.Y. POST blog, “I had a lot of discussions with Kevin Durant's people to see if he would join the Starbury flagship. I never spoke to him directly, [but] I told his agent Aaron Goodwin about the formula and new business model we've developed for the sneaker industry. They seemed interested but decided to go in another direction. I hear that Nike is coming out with a Kevin Durant shoe for $50 or $60. I guess we're doing something right” (NYPOST.com, 7/14).
CAUSING A STIR: In Utah, Loren Jorgensen writes Durant's appearance with the Sonics' Rocky Mountain Revue team against the Jazz yesterday "brought out the biggest crowd of the summer and caused a bit of a mob scene before the game even started." While the crowds "had been good" for the previous Jazz games, yesterday "marked the first sellout," as a standing-room-only crowd at Salt Lake Community College watched Durant score a game-high 29 points in the Sonics' loss (DESERET NEWS, 7/18).
|
Related Stories By Company
|
Related Stories By Sport
|
UCF-Adidas Spat May Head To Court
November 6, 2009 :
SportsBusiness Daily
Jordan Wears Nike; adidas Ending UCF Deal
November 5, 2009 :
SportsBusiness Daily
Murray Signs Five-Year Deal With adidas
November 4, 2009 :
SportsBusiness Daily
Polo Ralph Lauren Unveils U.S. Outfits
November 4, 2009 :
SportsBusiness Daily
Should Marcus Jordan Give Up Nike Request?
October 26, 2009 :
SportsBusiness Daily
|
UCF-Adidas Spat May Head To Court
November 6, 2009 :
SportsBusiness Daily
Teams H1N1 Vaccinations Examined
November 6, 2009 :
SportsBusiness Daily
ESPN Interested In March Madness Rights
November 5, 2009 :
SportsBusiness Daily
Jordan Wears Nike; adidas Ending UCF Deal
November 5, 2009 :
SportsBusiness Daily
Maple Leafs, Raptors Receive H1N1 Vaccine
November 5, 2009 :
SportsBusiness Daily
|
|