A few days ago, Under Armour approached Kevin Durant with a massive offer that reportedly reached up to $265 million - $285 million. Many people thought that Durant was on the verge to sign with the Maryland-based company. However, an Under Armour deal with Durant will not occur as he officially signed a deal with Nike that runs through 2024.
Kevin Durant has now officially signed with Nike. Deal runs through start of 2024 season.— darren rovell (@darrenrovell) August 31, 2014
Also, Jeff Zillgitt of USA Today spoke about Durant's deal with Nike and how much could it earn for the league MVP:
"The 10-year deal with Nike has the potential to reach $300 million and includes a $50 million retirement package, two people familiar with the terms of the deal told USA TODAY Sports"
At the 11th hour, Nike just simply couldn't let Kevin Durant walk away.
With Durant on the verge of a move to Under Armour, sources told ESPN on Sunday that Nike exercised its right to match any rival shoe company's offer to the Oklahoma City Thunder star. A source with knowledge of the deal later told ESPN that Durant has indeed signed with the Oregon-based company.
Nike countered Under Armour's offer of between $265 million and $285 million and believes it will keep Kevin Durant for the next 10 years, sources told ESPN. Nike, whose seven-year deal that guaranteed Durant $60 million is expiring, made an initial offer of about $20 million a year that was far from what Durant was looking for. Under Armour's huge play for Durant had many believing that Nike would even let him go at that price.
The overall value of Durant's deal with Nike could hit $300 million or more if his business continues to rise. That number is flexible as he will get a royalty on all sales in his line.
It was an interesting ride that Durant took in flirting with the idea of abandoning the Nike mothership to forge a new path with an upstart company, but in the end the swoosh won out.