Kevin Durant Reportedly Offered by Under Armour at Least $265 Million

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Under Armour is making a strong push to get the NBA's reigning MVP out of his endorsement deal with Nike.

Kevin Durant may be close to sign with Under Armour

Kevin Durant's representation informed Nike on Wednesday that he has a deal on the table with Under Armour worth between $265 million and $285 million over 10 years. Nike will have the right to match, which is a condition of Durant's current contract with the brand. And the Oklahoma City Thunder forward can still choose Nike if it doesn't match but can't legally choose Under Armour if Nike does.

Nike's last offer, sources said, would have given Durant no less than $20 million a year

If Under Armour wins the services of Durant, it would be the largest sponsorship deal the company has ever committed to. The average of $26.5 million to $28.5 million means that Under Armour would be devoting nearly 10 percent of its current annual marketing budget on him. Although Under Armour has given investors guidance that it might hit $3 billion in revenues this year, only about 1 percent of that is from basketball shoes.

Stephen Curry left Nike last year, and signing an endorsement deal with Under Armour

Under Armour shares are up 96 percent over the past year, compared to those of Nike, which are up only 21.5 percent. Among public athletic shoe brands, no company has performed better than UA over that time period.

If Nike passes on matching, Durant would be the second high-profile endorser Nike has lost to UA in the past two years. Last year, UA outbid Nike for the endorsement services of Golden State Warriors guard Stephen Curry, who will get his own signature shoe with the company for the first time in February.

Kevin Durant

Making things more appealing was the fact that Under Armour is a Baltimore-based company. Durant grew up in Seat Pleasant, Maryland, 36 miles southwest of Under Armour's headquarters, and the company has a record of spending marketing dollars in the community.

As LeBron James returned to his native Ohio to play with the Cleveland Cavaliers, maybe Durant was glad to return to his native Maryland to play for the Washington Wizards when his contract with the Thunder expires after the 2015-16 season. Before that, Under Armour will be a wise option.

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