Nike had until this upcoming Thursday to match Under Armour’s $285M deal with Kevin Durant. It looks like Nike came up with the money a little early because they have officially countered the offer.
KD is nearing the end of his $60M /7 year deal. Nike initially offered him $20 million a year but that was not enough for the MVP. Wanting to add the NBA star to their growing roster, Under Armour offered Durant $285M for 10 years, including 10% stock in the company. KD already stands to make $41.2 million with the Oklahoma City Thunder in the next 2 seasons. Staying with Nike could be a big advantage as he would still receive royalties along with his base pay. No details as to the exacts of Nike’s offer have been released but we do know Under Armour will not get a chance to counter.
10% stock or royalties? Did KD win in this? Let us know your thoughts.
