Oh, this is rich. Literally.
Thunder pro-baller Kevin Durant informed Nike last week that he has a deal with Under Armour sports clothing and gear company worth up to $285 million over 10 years, ESPN reported.
Durant could turn down the offer if Nike makes a move to match it. But it does show that Under Armour is putting a lot on the table — and investing greatly in the sports star — as ESPN projects that 10 percent of the company’s annual marketing budget would go to him.
Under Armour is a Baltimore-based company, and Durant grew up in Seat Pleasant, Maryland, just a 30-mile drive away. Home, sweet home for KD? Perhaps. And the company’s shares are up 96 percent in the past year. However, Nike’s is up only 21.5 percent, in part due to his “KD” Nike products.