Is One Man’s “Name” Worth $350 Million?
The reigning NBA Most Valuable Player and Oklahoma City Thunder forward, Kevin Durant, recently signed a 10-year deal with Nike worth $300 million following his 7-year, $60 million agreement. But including the retirement package and other benefits, the new deal could be north of $350 million for over 20 years. Durant’s John Hancock did not come easily though. Under Armor threatened Nike by making an offer that foiled Nike’s initial $200 million offer. Nike is ten times the size of Under Armor – as such the bidding war was not…read more