Sports

Nike's Kevin Durant Negotiation: A Tale of Two Sneakers


Durant

Photograph by Nathaniel S. Butler/NBAE via Getty Images

Durant

It’s been a tense couple of weeks for Nike (NKE) negotiators as they squared off against Under Armour (UA) in a bidding war for NBA superstar Kevin Durant. The product team, however, was having a blast.

On Aug. 16, as Durant’s contract was expiring and negotiations were about to start in earnest, Nike’s product people launched his newest shoe, a limited edition called “the Calm Before the Storm.”All-gray and posted with socks bearing clouds and lightning, the sneakers come with the tag-line: “Durant’s game personified.”

Then came the storm, the haggling, the big Under Armour offer, and Nike’s $275 million, 10-year bid that ultimately won. On Thursday, after the clouds around its big star cleared, Nike unveiled a second new Durant sneaker: “the Easy Money.”

As one might imagine, there’s a lot of green involved.

Kyle-stock-190
Stock is an associate editor for Businessweek.com. Twitter: @kylestock

The Good Business Issue
LIMITED-TIME OFFER SUBSCRIBE NOW

Companies Mentioned

  • NKE
    (NIKE Inc)
    • $96.83 USD
    • 0.54
    • 0.56%
  • UA
    (Under Armour Inc)
    • $68.09 USD
    • 0.12
    • 0.18%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus