Frank Isola of the New York Daily News has reported that Kevin Durant has been offered a shoe-deal with Under Armour, worth up to $30 million annually. Yes, you did in fact read that right.
Isola said this about the deal:
Kevin Durant won’t hit the free agent market until July 2016 but the NBA’s Most Valuable Player is on the verge of landing a blockbuster endorsement deal that could influence his future on the court as well.
According to a person familiar with negotiations, Durant, whose seven-year, $60 million deal with Nike is expiring, could earn as much as $30 million annually if he signs with Under Armour Inc., whose headquarters are in Durant’s home state of Maryland.
Nike and Adidas are also in talks with Durant, whose combination of brilliance on the court and marketability in the aftermath of his emotional MVP speech has made him the darling of Madison Avenue.
The founder of Under Armour, Kevin Plank, attended the University of Maryland which is not too far from Durant’s hometown. With the Wizards already hiring David Adkins, a former assistant coach at Montrose Christian High School where Durant attended, and now this Under Armour offer, the speculation of KD going back home in 2017 has increased.
There would be a considerable amount of impact if Durant did in fact go to Under Armour. As a brand, Under Armour would gain major popularity, and other young guys will want to sign with the up and coming basketball brand.
Just to put the Under Armour deal in perspective, KD would make $10 million more in his shoe deal per year than his actual contract with Oklahoma City, where he is set to make about $20 million in the 2014-2015 season.