PHOENIX (AP) - Kevin Durant and Nike have agreed to a lifetime contract, making him just the third NBA player to receive such a deal, joining Michael Jordan and LeBron James. The 13-time All-Star has a relationship with Nike that dates back to 2007, releasing 15 different sets of shoes. A 16th is coming soon.

$300 million Kevin Durant's lifetime Nike Contract agreement has created a stir in the sports world. With a deal that is estimated to be worth $300 million, Durant joins the ranks of other high-paid sportsmen like LeBron James and Michael Jordan, but what does this mean for the sports business as a whole?

Kevin Durant and Nike have agreed to a lifetime contract, making him just the third NBA player to receive such a deal, joining Michael Jordan and LeBron James. The 13-time All-Star has a relationship with Nike that dates back to 2007, releasing 15 different sets of shoes. A 16th is coming soon.

$194,219,320 Current Contract Kevin Durant signed a 4 year / $194,219,320 contract with the Brooklyn Nets, including $189,078,320 guaranteed, and an annual average salary of $48,554,830. In 2023-24, Durant will earn a base salary of $46,407,433, while carrying a cap hit of $47,649,433 and a dead cap value of $46,407,433.

A longstanding, profitable relationship From a commercial perspective, Forbes estimated in 2019 that Durant earns US$26 million from his deal with Nike, but the deal is prosperous for the brand, too.

Phoenix Suns star Kevin Durant has become the third NBA player to reach a lifetime deal with Nike, he announced on Boardroom on Friday. Financial terms of the deal were not disclosed. "When I first signed with Nike, I couldn't have dreamed of how far we'd go in this partnership.

The rest is history, as James represented Nike at every turn of his historic career - from Cleveland to Miami, back to Cleveland, and now in Los Angeles. In 2015, their partnership came full circle as James signed a historic lifetime contract with Nike worth approximately $1 billion.

Since then, the partnership has produced 15 signature shoes and Durant debuted a 16th pair earlier in the playoffs. From a commercial perspective, Forbes estimated in 2019 that Durant earns US$26 million from his deal with Nike, but the deal is prosperous for the brand, too.

Sotheby's says the Nike Air Jordan 13 sneakers sold for a record $2.2 million on Tuesday. The basketball legend wore them during the 1998 NBA Finals, known as “The Last Dance” because it was Jordan's final year with the Chicago Bulls. It may be a new world record, but the shoes sold on the lower end of estimates.

Sneakernomics: Which Basketball Player Sells The Most Shoes?

1. Michael Jordan 2013: $2.5 billion; 2012 $2.0 billion. A decade ago, Jordan sales were about $1 billion.
2. Lebron James. 2013 $300 Million; 2012, $300 Million.
3. Kevin Durant. 2013 $175 million; 2012, $35 million.
4. Derrick Rose.
5. Kobe Bryant.

Steph Curry The Golden State Warriors' Steph Curry, who will make almost $52 million in the upcoming season, is currently the highest paid player in the NBA. The Phoenix Suns' Kevin Durant is currently second at close to $47.65 million.

Brand Partnerships He rakes in about $32 million a year from Nike, according to Forbes. 6 Maverick Carter, James' longtime business partner, told GQ that the deal is worth more than $1 billion. 7 His endorsements and businesses earned him over $900 million in 2022, according to Forbes.