(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