Rob Black: Kevin Durant Signs $300 Million Deal with Nike

By Katie Lyons

Tue Sep 2nd, 2014 11:19am America/Los_Angeles

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NEW YORK (KRON) — Basketball superstar Kevin Durant has signed a 7-year, $300 million endorsement deal with Nike.

Under Armour had offered the Oklahoma City Thunder forward a 10-year, $285 million deal, but Nike offered him a higher deal on Sunday.

If Durant had signed with Under Armour, the deal would have been 12% of the company’s marketing budget.

Analysts estimate that Nike sold about $175 million worth of Kevin Durant-branded sneakers last year. However, this year’s sales are expected to climb an additional 50%.

(Copyright 2014, KRON 4 & CNN wires, All rights reserved.)

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