Westbrook, Jordan, and Sneaker Wars: Nobody’s Bigger than the Jumpman
Sneaker Wars have dominated the basketball world for over 30 years. However, the landscape is more complex now than ever. As companies battle growing their brand, athletes battle for leverage. As the industry changes so does the way of doing business. Westbrook represents the crossroads between individuality and brand loyalty.
Last season, Westbrook’s former teammate, now Houston Rockets shooting guard, James Harden signed a 200$ million deal with Adidas for 13-years.
He was the newest addition to the Adidas roster. Harden joins Damian Lillard, whose deal is estimate to be worth over 100$ million, as the two biggest basketball stars on Adidas brand.
Especially, after John Wall didn’t renew his deal with Adidas. His previous one was worth 7.5$ million per year. Wall felt as though he was underpaid and wanted more money.
Remember folks, Wall also didn’t like that he makes the same as Reggie Jackson. He has a history of getting the short end of the stick with his contracts. But, he’s a sneaker free agent now.
This isn’t great news for Adidas considering their other big star name in Derrick Rose has barely played the last two years. Rose deal has been a huge drain for them. His deal is for 13-years and worth up to 180$ million dollars.
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As a brand, Adidas is gaining ground in the sneaker market place. However, they are still second to Nike.
Nike has remained king by still having a roster consisted of Kobe Bryant, Kevin Durant, and LeBron James. The company spent big bucks to secure these guys with Durant’s deal worth up to 300$ million and LeBron’s deal reportedly worth over 500$ million.
Nike has been the premier brand since the sneaker wars began. But, the landscape is changing. Despite John Wall not resigning with Adidas, their company is on the up swing. The Adidas brand has gotten tons of attention the past two years from Kanye West and his Yeezys. Their definitely expanding their brand to work with entertainers in a way that Nike is not.
Also, Nike missing on Steph Curry a while back is coming back to haunt them. According to Darren Rovell of ESPN, “Nike failed to match a deal worth less than $4 million a year” a few years back for Curry’s services.
Curry’s expected value to Under Armour is huge. Nobody saw Curry becoming the 2x-MVP, NBA Champion, and household name that he is today. Business Insider reports that Curry’s value to Under Armour will be around 14$ billion if his popularity stays consistent. Not bad considering Curry’s deal with Under Armour was reportedly only around 4$ million per year.
The three main competitors in the basketball sneaker world are currently Nike, Adidas, and to a much lesser degree, Under Armour, in that order.
But, there is a third brand that we all know too well.
The Jordan Brand.
Next: Part 2: Jordan, Success, and Nike