Nike has risen to Under Armour’s challenge over NBA’s top basketball player Kevin Durant from Oklahoma City Thunder. Under Armour offered between $265 and $285 million for a multi-year endorsement with Durant who has been with the Swoosh brand for seven years.
The global market leader is apparently not willing to let Under Armour pass with its move and offered to renew Durant’s deal and match UA’s offer at $285 million. According to media reports, Nike sees its back-to-school business endangered as it is usually driven by kit sales and special make-ups featuring top U.S. sports stars.
Durant’s salary to increase by more than 450 percent
An analyst told U.S. publications that UA’s back-to-school sales over the past four weeks were up by 37.8 percent, while Nike’s soared by “only” 16.2 percent in the basketball category compared with last year’s selling season. This explains to some extent why Nike is eager to renew the Durant deal which is about to expire. Back in 2007, when the company took Durant into its team, the athlete was relatively inexpensive with a multi-year agreement worth $60 million.