James Harden Signs Adidas Deal Worth $200 Million
Looks like Khloe Kardashian picked the right NBA baller to date because Adidas has taken Houston Rockets guard James Harden away from Nike with a 13-year, $200 million offer.
Harden’s agent, Rob Pelinka, negotiated the deal. Pelinka confirmed on Thursday that Nike informed him that it would not match the term sheet from Adidas. The deal with Harden, which will have him wearing Adidas shoes on the court and gear in social settings, officially begins on Oct. 1.
As of now, Harden will average $16.78 million on the final three years of his deal with the Rockets and $15.38 million annually from Adidas. But if Harden hits certain benchmarks, it’s possible he will earn more annually from Adidas than the Rockets.
Aside from a signature shoe, a Harden apparel line is expected along with branded marketing commitments. Harden and Adidas are also expected to attempt to disrupt the shoe marketplace amid underwhelming successes for the brand.
Harden became a sneaker free agent just at the right time, as Adidas needed to make a move. The company, which signed Chicago Bulls guard Derrick Rose to a huge 14-year contract in 2012, hadn’t seen many dividends from that deal because of injury. Sales of the Rose shoe have failed to eclipse any of Nike’s stalwarts — LeBron James, Kevin Durant and Kobe Bryant.
The first signature shoe for the brand of Washington Wizards guard John Wall, who was originally with Adidas-owned Reebok, fell mostly flat. Portland Trail Blazers guard Damian Lillard is not only in the Pacific Northwest, but he’s also on a team that isn’t built for postseason success.
Adidas has been struggling in the United States. Last year, Under Armour passed the company as the second-largest apparel seller behind Nike, and Adidas has less than a 3 percent share of U.S. basketball shoe sales compared to Nike’s more than 90 percent, according to market retail tracking firm SportsScanInfo. In the first six months of 2015, Adidas sold fewer shoes in the U.S. than Skechers and New Balance.
Get that money James!