Miami Heat all-star Dwyane Wade will reportedly not re-sign with Nike's Jordan Brand when his contract is up at the end of September and will instead enter into a deal with Chinese shoe brand Li-Ning, according to SneakerWatch.com:
SneakerWatch has received confirmation that Dwyane Wade will no longer be repping Jordan Brand. Instead Wade has made his way to Chinese brand Li-Ning in a speculated multi-million dollar deal. No official words from either side yet but expect an announcement some time in the next few weeks.
Wade had signed with Nike in 2009 and during their partnership the brand had released two Fly Wade sneakers. Nike will look to replace Wade while Li-Ning will most certainly boost its presence in China and expand its brand in the U.S.; its list of clients included two of Wade's former teammates, Shaquille O'Neal and Damon Jones. Jose Calderon, Hasheem Thabeet and Evan Turner are currently endorsed by Li-Ning.
The news comes a month before Wade and the Heat play two exhibition games in China.
The story was also reported by Heat beat writer Ira Winderman of The South Florida Sun-Sentinel, who was told by Wade on Sept. 7 that he is still in the midst of discussing the deal with the Chinese-based company:
"We're still negotiating, until you get to the point where you decide which way to go. There's many shoe companies that obviously know that I'm up this summer. But I still have the respect for and the obligation and the willingness to sit down and to the company I'm with."