Nike has the right to match Under Armour's $265 million offer to Kevin Durant.
Durant, who signed with Nike when he entered the NBA in 2007, reportedly has a 10-year offer from Under Armour worth between $265 million and $285 million, plus equity in the company. Nike is not out of the running, however, because of an agreement from his previous contract.
From Rovell's report:
Nike, which saw its signature business related to the Oklahoma City Thunder forward grow to roughly $175 million at retail last season, will have the right to match, which is a condition of Durant's current contract with the brand. Durant can still choose Nike if it doesn't match but can't legally choose Under Armour if Nike does.
Under Armour is based in Maryland and is looking to make Durant, who is from the state, the face of its brand.
Durant withdrew from Team USA basketball earlier this month, citing exhaustion.
- Paul Palladino