Roc Nation Sports signee, Kevin Durant, has had an impressive calendar year for 2014. After claiming his first NBA regular season MVP award and another scoring title, Durant headed into the offseason expected to carry Team USA to a gold medal at the FIBA World Cup. Following a last minute withdrawal from the team, Durant entered a sneaker bidding war between Under Armour and Nike. The former offered Durant a reported 10-year-contract ranging between $265-$285 million dollars, with equity in the company. Nike, Durant’s current sneaker endorser, exercised their right to match the aforementioned offer; which according to USA Today’s report, Durant and Roc Nation certainly cashed in!
While the final dollar amount is expected to rival and perhaps surpass what Under Armour offered, this is a coup for Jay-Z’s Roc Nation Sports, which proved it can procure a financially significant endorsement deal.
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.
Durant signed the deal Saturday in Texas.
Durant’s endorsement deal is the second lucrative contract Jay Z’s Roc Nation Sports has negotiated. Last December, Hov and company negotiated a $240M deal for their star baseball player, Robinson Cano, with the Seattle Mariners. Durant’s NBA free agency is expected summer 2016. Until then him and Jay can hang their feet up, for now.
