Kevin Durant Offered Insane Contract By Under Armour To Leave Nike
If this next bit of news is any indication, Kevin Durant is going to be an insanely rich man between his endorsement deals and upcoming free agency after the 2015-16 NBA season.
According to ESPN's Darren Rovell, Under Armour has just offered Durant a deal that radically dwarfs his current playing contract with the Oklahoma City Thunder - an agreement that would signal the end of Durant's partnership with Nike:
Kevin Durant's representation has informed Nike that it has a $265M-$285M deal from Under Armour. Nike has the right to match.
— darren rovell (@darrenrovell) August 20, 2014
Per Rovell, the contract would extend over ten years and would mark a huge financial commitment for Under Armour. His annual take-home of $26.5-$28.5 million would cost the company about ten percent of their current marketing budget - a high cost for a company that currently makes around one percent of its revenue from basketball shoes.
Due to the fact that Under Armour's current business model incorporates a very small basketball division, the company will have to guarantee Durant his money up front rather than offering him a minimun guarantee plus royalties.
If Nike matches (which is unlikely at this point), Under Armour can't legally sign Durant to a contract. However, if Nike offers the perennial All-Star a lower guarantee plus royalties, Durant is still able to choose Nike over Under Armour at his behest.
Get all you NBA news on the go! Download our new 5-star iPhone app and follow our NBA league page today.
Chat Sports on YouTube
Chat Sports TV
NFL Daily | NBA Now | CFB Now
More from Chat Sports
Article · Feb 5, 2018
Thunder Trade Rumors: Oklahoma City Targeting Pair Of Defensive Stoppers Before The Deadline
Article · Jan 29, 2018
3 Players The Oklahoma City Thunder Could Trade For Prior To The Deadline
Article · Sep 29, 2017
BREAKING: Russell Westbrook Signs Super-Max Extension With Oklahoma City Thunder