In a bit of good timing for people like me who look way too far into things like this, Darren Rovell of ESPN is reporting that Gatorade will not renew its deal with Kevin Durant when it expires next week. This just a few days after having a back and forth with Dwyane Wade that some wrote off as a Gatorade controlled hoax, something Wade shot down at Miami Heat media day with a simple “no.”
The move is noteworthy as well because this is the first real business news from Durant since signing with Roc Nation Sports in June. Durant, the 17th highest paid athlete in the world according to Forbes, brings in $14 million annually from endorsements (most of which comes from Nike).
Durant, and baseball’s $300 million dollar man Robinson Cano, will be key for Jay Z’s new side hustle. If he is going to turn this into a lucrative endeavor, and not just MCHG fodder, he will have to succeed with those 2 slam dunks. Both will be looking for new deals in different fields, as Cano is looking to sign his next deal in the uncapped MLB, and Durant will be looking at new endorsements in the near future as his seven-year, $60 million Nike deal expires in 2014. If Hov can raise their value, it would be a sign that he can actually do the job as well as he thinks, and could increase his clientele, and if he somehow fails, Roc Nation Sports could go the way of J Hotels (remember that? yeah me neither).
I want more like this!
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