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Sorry, Under Armour! Kevin Durant Sticks With Nike in $300M+ Deal

Kevin Durant has turned down Under Armour (UA) and stuck with Nike (NKE).

Under ArmourUnder Armour had offered the Oklahoma City Thunder forward a 10-year deal worth between $265 million and $285 million but Durant decided to continue his partnership with the company’s rivals instead.

Nike matched the company’s deal and the basketball star could now make as much as $350 million out of his endorsement over the nexdt decade. Kevin Durant has been endorsed by Nike for seven years now.

The athletics company signed Durant out of high school in 2007 to a seven-year deal.

UA stock is up 2.9% Tuesday afternoon. NKE stock is up 0.8%.

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Article printed from InvestorPlace Media, https://investorplace.com/2014/09/under-armour-kevin-durant-nike/.

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