Rob Black: Kevin Durant Signs $300 Million Deal with Nike
By Katie Lyons
Tue Sep 2nd, 2014 11:19am America/Los_Angeles
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.)