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Kevin Durant's lifetime contract with Nike Inc (NYSE:NKE) solidifies his status in an elite club that includes Michael Jordan and LeBron James.
The terms of the deal were not disclosed, but it will include footwear, apparel, and community outreach.
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Durant's partnership with Nike began in 2007 when he was drafted by the Seattle Supersonics and has since spawned 15 signature shoes with another in the works.
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Apart from his on-court accomplishments, Durant, 34, has been involved in various philanthropic initiatives, including collaborations with Nike on court refurbishments and grassroots basketball programs.
"As one of the best basketball players in the world, Durant has been an essential part of the Nike family for the past 16 years," Nike EVP of Global Sports Marketing, John Slusher, said. They look forward to continuing to serve the next generation of athletes together.
The lifetime deal with Nike is a significant milestone for Durant, who currently ranks 13th on the NBA's all-time scoring list. His lifetime contract with Nike provides him with the opportunity to continue earning with Nike for decades after his retirement.
A true honor to be in the game for life with @Nike https://t.co/VNj1IJUVWG
— Kevin Durant (@KDTrey5) April 28, 2023
Meanwhile, Jordan's brand partnership with Nike remains strong, generating $5.1 billion in the fiscal year 2022 alone, with the basketball legend receiving 5% of the profits generated.
Image: Shutterstock
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.