It may have taken them longer than usual, but Nike knows a good thing when it sees it regarding Kevin Durant.
According to reports, the shoemaker put an end to speculation of the NBA star jumping ship to Under Armour by presenting a deal with an overall value that could rise to $300 million or more if his business continues to rise.
Under Armor’s deal with Durant, which he was on the verge of signing, involved an offer between $265 million and $285 million. Considering a possible transition to the Washington Wizards when he becomes a free agent after the 2015-16 season, Oklahoma City Thunder fans were a bit on edge about the move to Under Armour.
Sources tell ESPN that Nike countered it’s rival’s deal with its high-value offer to Durant and the belief that it will keep the Oklahoma City Thunder star for the next 10 years. Durant’s current seven-year deal with Nike for a guaranteed $60 million is expiring. Initially, the company, offered Durant about $20 million a year in a deal that was far from what he had in mind. Hence, the appeal of Under Armor.
ESPN reports that Nike officials told Durant and his team at Jay Z‘s Roc Nation Sports on Saturday that it would step up enough to allow Nike to keep him in its robust stable of basketball endorsers that includes LeBron James and Kobe Bryant. Although the exact Nike offer for Durant isn’t known, sources revealed to ESPN that Durant should make more — in base and royalties — than the Thunder will pay him over the next two seasons ($41.2 million).
Despite the big payday, sources close to Durant say the decision of which company he would align with weighed on him. A return to Nike, the sources noted, comes with a sense of relief because Durant can still make significant money without being associated with the risks of Under Armour’s fledgling shoe business.
SportsOneSource, a market retail-tracking firm, noted that Durant’s signature “KD” shoes made $175 million at retail this past year. Although Nike had used the “KD” logo since 2008, the company was granted the trademark for the brand in January.
With Durant staying with Nike, Under Armour now finds itself back at square one. The shoe company, which acquired Golden State Warriors guard Stephen Curry away from Nike last year, missed out on Los Angeles Clippers forward Blake Griffin, who returned to the Jordan brand.
Read more at http://www.eurweb.com/2014/09/nike-megadeal-secures-kevin-durants-place-with-shoe-brand/#QiAm4yXxrVsROQP9.99
Posts tagged as “Roc Nation Sports”
Kevin Durant is the latest superstar athlete to join Jay-Z’s new Roc Nation sports agency, according to reports.
Since selling his shares of ownership of the Brooklyn Nets in order to become a sports agent, the hip-hop mogul has already signed a handful of young superstars.
Durant, one of the three most popular players in the NBA, will join the likes of Robinson Cano, Victor Cruz, Geno Smith and Skylar Diggins as clients of Roc Nation.
While Jay-Z might not be the most seasoned sports agent, his brand development skills are undeniable. In the new age of brand marketing and social media, teaming up with a pop culture icon is one of the best ways for an athlete to increase his or her public image.
“KD doesn’t want a traditional NBA agent anymore,” a league source told Yahoo! Sports. “He wants Jay-Z to handle his branding. …He had a chance to be with his idol and couldn’t say no.” It also helps that Roc Nation is backed by Creative Artists Agency, one of the most powerful sports agencies in the country.
This is the second time in two years that Durant has changed agencies. He was most recently with Rob Pelinka of Landmark Sports, which represents both Kobe Bryant and James Harden. Pelinka had been Durant’s most recent agent. In a year with Pelinka, Durant was the most marketed player in the league, with national TV spots for Nike, Sprint and Degree, to name a few.
But very few agencies can offer what Roc Nation offers. Jay-Z has influence and connections in sports and entertainment that very few people can match. If Durant wants to be surpass LeBron James and Kobe Bryant as the most popular figures in basketball, teaming up with Jay-Z was the right move.
article via sportingnews.com
NBC New York – Jay-Z is part of a group trying to renovate Nassau Coliseum. The music mogul attended a meeting Thursday on Long Island, where the media was briefed on four proposals to renovate the arena and surrounding property. Nassau County officials have been trying to come up with a plan to redevelop the 40-year-old arena for many years. Its primary tenant, the New York Islanders hockey team, is moving to the new arena in Brooklyn when its lease expires in 2015. Jay-Z’s Roc Nation is part of a group that built Barclays Arena and is bidding for the Long Island project.
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article via thegrio.com
Jay-Z’s Roc Nation Sports announced Thursday that Skylar Diggins, the third overall pick in the 2013 WNBA Draft, is the newest professional athlete to sign with the burgeoning sports agency. “It’s the ROC in here!” Diggins tweeted after the news broke on Jay’s Life+Times site.“ShockNation meets RocNation.”
The former University of Notre Dame standout was recently selected by the Tulsa Shock in Connecticut last week. The 22-year old Associated Press First-Team All-American point guard will join New York Yankee Robinson Cano at Jay’s new company, which is a joint venture with the fabled Creative Artists Agency, boasting clients such as New York Knicks star Carmelo Anthony and Buster Posey, who recently inked a $167 million deal with the San Francisco Giants.
The Blueprint III MC recently divested his minority ownership stake in the Brooklyn Nets in order to be eligible to pursue NBA athletes. With the NBA Draft coming up in June, look for more breakout basketball stars to be throwing up the Roc in the coming months.
article by Maurice Bobb via rapfix.mtv.com
(Photo courtesy of Mark Seliger for TIME)
Power couple Jay-Z and Beyoncé have recently been making lots of headlines lately, and now the rapper is gracing the cover of Time. Both he and wife Beyoncé have been named by the magazine as two of the world’s most influential people.
The annual feature lists 100 of the world’s most prominent figures, in no particular order, who have made the biggest global impact over the past year. The issue, which includes Jay-Z on one of seven covers, also provides brief profiles that capture the essence of each qualifier.
Jay-Z welcomes a new member into the Roc Nation family. Earlier today it was announced that world champion Robinson Cano, second baseman of the New York Yankees signed to Jay-Z’s latest venture, Roc Nation Sports. Life and Times reports:
“Because of my love of sports, it was a natural progression to form a company where we can help top athletes in various sports the same way we have been helping artists in the music industry for years,” says Shawn “JAY Z” Carter about the new venture.
The Yankee Slugger also told the press he is ready to take control of his career, and this move makes that possible.
“At this point in my career, I am ready to take a more active role in my endeavors both on and off the field,” said Cano. “I am confident that the pairing of Roc Nation Sports and CAA Sports will be essential in helping me accomplish my short- and long-term goals. I am making this important decision now so I can keep my focus on helping the Yankees succeed in 2013, while minimizing any distractions for me and my teammates.”
article by BlogXilla via globalgrind.com