Durant signs 7-year, $60 million endorsement deal with Nike

Updated: July 18, 2007, 10:45 PM ET
ESPN.com news services

BEAVERTON, Ore. -- Kevin Durant signed a seven-year, $60 million endorsement deal with Nike that includes a $10 million signing bonus, the second-largest rookie deal in basketball.

Nike and Durant's agent's office confirmed Wednesday the deal had been reached.

"We are very pleased to have Kevin as a part of the Nike Basketball family," said Craig Zanon, vice president and general manager of global basketball. "Kevin is an amazing talent on the court and a quality person off the court and we are happy to be partnering with him as he starts his NBA career."

The Seattle Times, citing industry sources, reported on Wednesday that Durant had earlier turned down a $70 million deal with adidas. That contract called for a $12 million signing bonus, but Durant has a history dating to eighth grade with Nike.

"At the end of the day, Kevin has been with Nike his whole career and he felt comfortable with them," Durant's agent Aaron Goodwin said, according to the paper. "He took the time to give adidas the opportunity and they're a great company, but he chose the company that he's more familiar with. And we build brands on authenticity and it's more authentic for him to be somewhere where he wants to be and he's comfortable."

The paper said that Nike will unveil a signature Durant shoe after his rookie season with the Sonics. Durant has reportedly expressed an interest in endorsing a midrange priced shoe.

Information from The Associated Press was used in this report.