Phoenix Suns basketball star Kevin Durant has inked a lifetime endorsem*nt deal with US sportswear titan Nike.
Confirmed:
- Lifetime partnership to include footwear, apparel, and a community and philanthropic collaboration focused on grassroots basketball
- 16th signature shoe to be released shortly, which Durant has previously teased
- USA Today reports in 2014 suggested Durant’s then new ten-year Nike extension would pay him US$250 million over its duration, with a further $50 million ‘retirement package’
- That deal was set to expire after the 2024/25 season
Context:
Durant becomes the third National Basketball Association (NBA) star to land a lifetime deal with Nike, following both Michael Jordan and LeBron James. The 34-year-old’s relationship with the company goes back to 2007, and the partnership has seen 15 sets of shoes released up to now. It is unconfirmed if the lifetime deal is simply an extension of his existing deal to cover the remainder of Durant’s playing days, with the guarantee of the retirement package also activated, or a new deal entirely.
Comment:
“When I first signed with Nike, I couldn’t have dreamed of how far we’d go in this partnership,” Durant told the Boardroom, the media company he co-founded.
“We’ve done amazing work creatively and philanthropically. We’ve traveled the world together and built a business that will now last forever. I’m excited for the future and honored to be in rare company with this deal.”
Coming next:
Durant’s expanding role with Nike will likely see more philanthropic collaborations between the sportswear giant and the Durant Family Foundation. He has increased his sports investment portfolio through his Thirty Five Ventures, and more deals could see him place on 2023’s 50 Most Marketable Athletes list.
