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Projected Top Pick in draft Ben Simmons signs with Nike

ben simmons

Who Did He Choose?

Projected Number one pick Ben Simmons chooses Nike over Adidas for his endorsement deal. Reports say that Simmons past up on Adidas even though they offered more money.   Simmons who is just 19 years old made the announcement of Twitter.

 

Rich Paul of Klutch Sports Group recently helped get Lebron James a life time deal with Nike, so their is no surprise that the group helped Simmons lean towards Nike.  Simmons who was the top freshman in the country last year will enter the draft with extreme hype. He earned that hype by leading The LSU Tigers with 19.2 points, 11.8 rebounds, and 4.8 assists.

Here Were The Terms

lebron-wears-zoom-soldier-8-at-wine-and-gold-scrimmageAdidas was hoping to persuade Simmons with his own marketing plan and his own distinct path. The pitch poked at the notion that he would be following in someone else’s footsteps, should Simmons be marketed as a supporting member of LeBron’s Team Soldier sneaker line at Nike. Adidas also offered a shoe deal potentially worth considerably more than Nike. The Adidas offer was basicly an incentive laden, bet on yourself type of offer. Simmons would have owned a “rollover clause” in the adidas deal, but not with Nike, sources said. If Simmons were to win the Rookie of the Year Award and the subsequent $1 million bonus, his second-year base number with adidas would’ve rolled over that additional million and landed at $4.4 million. Each year thereafter would’ve had a base number including all incentives earned to that point, which could have dramatically increased the overall value of the deal. There were also several additional bonuses for earning All-Star honors.

Simmons is being built up as the next LeBron James, but unlike Lebron, he did have an up-and-down year at LSU. Yherefore, for good reason, the adidas deal was purposely structured to be incentive-laden, but would’ve rewarded Simmons handsomely if he delivered. “If the dude is good, he could have gotten to $5 million per year within two years,” a source said. The family was torn throughout the process, multiple sources said, preferring the financial upside of the adidas offer but intrigued by Nike’s marketing prowess.

The adidas offer began at $10 million over five years, with a $2 million signing bonus and a $1 million bonus for winning the Rookie of the Year Award. The offer was upped to $17 million over five years, with the bonuses still on the table.

Nike’s initial offer began much lower at $7.5 million over five years. After the NBA’s draft lottery locked in the Philadelphia 76ers and the Los Angeles Lakers as the first and second picks, respectively, Nike increased its offer to $12 million over five years, with incentives valued much lower than those offered by adidas’.

Although it offered less total cash, Nike emphasized its dominance in the footwear industry from a market-share standpoint and its ability to promote stars and create signature icons. He toured the Nike Sports Research Lab, an unparalleled resource of advanced motion and biometric data that dwarfs competitor labs. Nike also touted its upcoming NBA partnership that begins in 2017 and will allow the brand to include players in uniform in its advertising. Lastly, the brand highlighted its Innovation Kitchen, where some of the industry’s top technologies and designs are born.AndrewWigginsShoes

As it stands, Simmons will agree to a deal with Nike that still lands him in a commendable zone for a top pick. The $12 million, five-year deal is right in line with the $11 million deal 2014 top pick Andrew Wiggins signed with adidas in 2014. Simmons’ shoe deal is far below the two largest signed by a rookies: Kevin Durant’s seven-year, $60 million deal and James’ seven-year, $90 million deal were much higher and also were both with Nike.

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