UPDATE: Kevin Durant took to his Twitter account to end all Under Armour rumors and speculation, announcing that he will remain with Nike. Are you relieved? Disappointed? Sound off in the comment box below, and keep Nice Kicks bookmarked for all of your news and information on KD’s sneakers.
Fans of Kevin Durant‘s signature sneaker series with Nike can breathe easy. ESPN’s Darren Rovell comes through again, first reporting that Nike has countered Under Armour‘s lucrative offer and the reigning NBA MVP is close to resigning with the Swoosh. As many of you know, Durant’s deal with Nike expired a little over a month ago, that lead to Under Armour making an offer to KD worth between $265 and $285 million for 10 years. After weeks of speculation on who will be the brand on the OKC superstar’s feet, Mr. Rovell reported this morning that Durant’s new deal with Nike could hit $300 million over 10 years based on potential royalties:
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 James and Kobe Bryant.
It looks like Nike has offered enough to land Durant, though it could be argued as to whether its an exact match to the Under Armour deal. Under Armour’s offer included 10 percent stock, which one could argue makes that offer worth more than its present day value.
Rovell reports that sources close to Durant say the decision weighed on him, but going back to Nike grants KD with a sense of relief, because Durant can still make significant money without being associated with the risks of Under Armour’s fledgling shoe business.
It looks like Nike has manage to maintain it’s trio of superstar’s but is this good or bad for the balance of the NBA? Keep it locked to Nice Kicks for all updates and be sure to let your thoughts be heard via our comment section or your favorite social outlet.