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$28.5 Million A Year To Sell Sneakers

by admin on Wednesday, September 10th, 2014

Kevin DurantKevin Durant has just become the highest shoe salesman in the world. Well, Michael Jordan might already have that covered, but Durant just closed a hell of a deal with Nike which will net him more over the next two years than his $42 million contract with the Oklahoma City Thunder.

Under Armour was making a big play for Durant’s sponsorship but their best offer was countered by Nike causing Kevin Durant to stay put with Nike. The money on the table is supposed to be between $265 and $285 million to be spread out over the next ten years.

We don’t know what basketball shoes will look like in those ten years, but Kevin

Durant will be set for life no matter how outrageous they turn out to be. He was coming off of a seven year deal with Nike worth $60 million, but that contract expires soon. Nike offered Durant an extension paying $20 million per year, but apparently his financial advisers, or Durant himself, thought that the NBA Super Star could do better and they were right.

Under Armour had presented such an attractive package that many believed that Durant would jump ship because Nike would never come up with such a deal, but they did. Under Armour did sign Stephan Curry of the Golden State Warriors away from Nike last year with an attractive offer. There must be a lot of money to be made it the sneaker business!

One strong factor in Durant’s corner for these negotiations was Jay Z’s Roc Nation Sports which represents his interests contract wheeling and dealing. But being able to remain with a company already represented by the likes of such basketball greats as LeBron James and Kobe Bryant must have had its own appeal.  Nike is, after all, now the world’s largest shoe and apparel company.

Kevin Durant becomes a free agent after the 2015-2016 season and a possible move to the Under Armour Company had many Oklahoma City Thunder fans fearing that such an alliance would lead Durant back to his home territory of Washington, where both the Wizards and Under Armour are situated. Moving back home seems to be popular these days.

Where Kevin Durant will be playing professional basketball after the 2016 season remains to be seen. But he has certainly become one of the most marketable athletes in modern times and one of the richest!

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