Kevin Durant, the NBA’s reigning MVP and no worse than the second-best basketball player on the planet, was looking around, maybe seeking a better fit, possibly in search of a new sole.
Suddenly, shoe company free agency became mainstream news.
Could Under Armour—the Baltimore-based upstart founded in 1996 on $15,000 but now with $3 billion in revenue expected in 2014—actually poach Durant from Nike, the behemoth in Beaverton, Oregon, with anticipated revenue of $30 billion for 2015?
Not this time. The Oklahoma City forward stuck with Nike, announcing the news on Twitter and ending what might have been a major coup for an ascending brand. Under Armour’s high-stakes courtship and Nike’s ensuing reaction underscored Durant’s perch among the ranks of sport’s most marketable stars—a game-changer.
“He would have given UA instant credibility,” said Matt Powell, vice president of industry analysis for Sports and Leisure Trends at The NPD Group, via email. “And every brand needs credibility—that’s why they pay elite athletes to wear their products. Signing KD would have helped UA gain traction in the basketball market.”
Indeed. According to Powell’s estimates, Nike and its Jordan subsidiary comprise 95 percent of all U.S. basketball sales, with UA currently at less than 1 percent.
So, even as Nike seemingly prints cash—and with megastar LeBron James already on board and established as the company’s top endorsee—was re-upping with Durant a matter of playing “keep-away” from a surging competitor or simply continuing to appreciate and maintain an existing relationship?
“KD’s been a Nike athlete since he entered the league and we’re proud to have a relationship with one of the most dynamic players in the game,” Nike spokesperson Brian Strong wrote in an email. “He possesses exceptional on-court talent, a strong off-court personality and the ability to connect with and inspire the athletes that we exist to serve, including the youth.”
The last three words in that statement are likely the key.
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