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Under Armour looking to lure Durant away from Nike -ESPN.com
August 21, 2014 / 9:15 PM / 3 years ago

Under Armour looking to lure Durant away from Nike -ESPN.com

Aug 21 (Reuters) - Sports apparel retailer Under Armour is looking to lure NBA most valuable player Kevin Durant away from rival Nike in a deal worth as much as $285 million over 10 years, ESPN.com reported on Thursday.

The deal, sources told the website, includes Under Armour stock and other incentives, such a community center built in Durant’s mother’s name.

Nike would have the right to match the deal, which is a condition of Durant’s current contract with the Beaverton, Oregon-based athletic-apparel giant, the website reported.

Durant, who played high school ball in Maryland, would represent a major coup for Under Armour, a Baltimore-based company looking to put a dent in Nike’s dominance in basketball apparel.

A five-time All-Star for the Oklahoma City Thunder, Durant is one of the league’s most popular players, respected for both his on-the-court prowess as well as his humble demeanor.

ESPN said Durant’s representation, Roc Nation Sports, told Nike on Wednesday that he has a 10-year deal on the table with Under Armour worth between $265 million and $285 million.

Nike’s last offer, sources told the website, would have given the 25-year-old Durant a base and a minimum royalty guarantee that would equal no less than $20 million a year.

Under Armour could not be reached for comment.

Reporting by Steve Ginsburg; Editing by Leslie Adler

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