While it looked like Under Armour was about to seal the deal, Nike swooped in at the 25th hour and matched the offer.
Nike has countered Under Armour’s offer of between $265 million and $285 million and believes it will keep Kevin Durant for the next 10 years, sources told ESPN. Nike, whose seven-year deal that guaranteed Durant $60 million is expiring, made an initial offer of about $20 million a year that was far from what Durant was looking for. Under Armour’s huge play for Durant had many believing that Nike would even let him go at that price.
But on Saturday, Nike officials told Durant and his team at Jay Z’s Roc Nation Sports that it would indeed step up enough to allow the world’s largest shoe and apparel company to keep him in its robust stable of basketball endorsers that includes LeBron Jamesand Kobe Bryant.
While the exact Nike offer for Durant isn’t known, sources told ESPN that Durant should make more — in base and royalties — than the Thunder will pay him over the next two seasons ($41.2 million).
Kevin Durant’s shoe line with Nike has grown significantly in popularity over the years coming second only to LeBron James in active players. Of course they wouldn’t let their new golden boy go. Nike also has ways to increase profit and make Durant’s new deal worth it. As it stands, his sneakers are sold for around $125 and in limited stores. A raise in price (like LeBron’s shoe) and more distribution would certainly raise the bottom line.
