Nike Fights to Hold Onto Durant, Matches Under Armour’s $265 Million Dollar Deal

Oklahoma City Thunder player Kevin Durant’s seven year contract with Nike is coming to an end, and with competition like Under Armour offering him a 10 year contract worth $265-$285 million, Nike is fighting to hold on. Nike, who also endorses Cleveland Cavaliers player Lebron James and Los Angeles Lakers’ Kobe Bryant told Durant and his representatives at Roc Nation that they plan to match Under Armour’s offer. Omar Saad, senior managing director of ISI said Durant’s signature KD shoes generated up to $175 million in retail sales this past year. He went on to say, “For Nike, this was nothing to them. They could easily build Durant’s business enough, assuming normal margins, where they could generate a cash flow of $60 million a year. And Nike is really goof at monetizing its marketing assets, way better than anyone else.” At this point, it’s likely that Durant will be staying with Nike. Under Armour successfully bought out Golden State Warriors’ Stephen Curry but lost Los Angeles Clippers’ Blake Griffin who returned to Nike.