Kevin Durant has officially signed a 7-year, $60 million contract with Nike Inc. to promote their basketball sneaker and apparel lines, which will include a signature shoe due out later this year. The contract includes a $10 million signing bonus and is the second largest shoe contract ever for a rookie after LeBron James’ contract with Nike.
Nike rival adidas had offered Durant $70 million over 7 years with a $12 million signing bonus, but in the end, Durant had to go with the shoe company that he’s always been loyal to.
“At the end of the day, Kevin has been with Nike his whole career and he felt comfortable with them,” Durant’s agent Aaron Goodwin said. “He took the time to give adidas the opportunity and they’re a great company, but he chose the company that he’s more familiar with. And we build brands on authenticity and it’s more authentic for him to be somewhere where he wants to be and he’s comfortable.”
Durant has indicated that he would like to endorse a midrange priced sneaker, although one can only assume he will also have a $150 pair, similar to LeBron’s.