Armour looking to lure Durant away from Nike: ESPN.com
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[August 22, 2014]
(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
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.
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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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