Giannis Antetokounmpo’s run as the best bargain on the Nike basketball roster will come to an end on September 30 when his deal runs up and he becomes the sneaker world’s version of a restricted free agent. For the past four years, Nike has paid Antetokoumpo $25,000 a year, which is an incredible value for a budding superstar and a first time All-Star last year.
While Nike got plenty of bang for their Buck with Antetokoumpo, he is now set to cash in big time on his status as one of the league’s rising stars. There are few players on the planet that can command as much on the open sneaker market as Antetokoumpo and, with Nike holding a 20-day match clause, if either adidas or Under Armour want to swoop him out of his Swoosh’s, they’re going to have to come with significant money to force Nike to pass.
As ESPN’s Nick DePaula reports, Antetokoumpo’s starting point for negotiations is expected to be above $5 million per year, which is the base amount that Kristaps Porzingis recently got from adidas on his new 7-year deal, with incentives that could run it up to closer to $7 million. Antetokounmpo will almost assuredly command that much if not more, as he’s a superstar in the making who has become a beloved figure among fans for the combination of his unique and dominant play on the court and his friendly, jovial demeanor off of it.
DePaula reports sources in the sneaker industry have told him that Antetokounmpo could be looking at a deal between $7 and $10 million annually on a 5-year deal. That’s a significant jump for someone making $25,000 per year right now from his deal, but there are a number of reasons why he’s going to be one of the most sought after free agents on the shoe market come October.
As already stated, Antetokounmpo is a unique talent and has a gregarious personality that seems to be a marketing team’s dream, but the relative lack of marketing that Nike’s sunk into him also makes him very appealing to other sneaker companies.
In the footwear world, a player’s appeal to a new brand can often be measured by his relatively untapped marketing to date. Companies don’t want to have to repackage and remarket someone who has a history of signature shoes with competing brands. They want to tell stories that consumers haven’t yet heard. It’s partly the reason why James Harden and Porzingis were so coveted when their Nike deals were set to expire. After wearing a signature shoe with both Reebok and Adidas, it’s also why Washington Wizards star point guard John Wall has been struggling to land a lucrative new endorsement deal with a third brand, despite his rise as one of the game’s greatest floor generals.
“Giannis has the cleanest slate,” says a company source interested in signing him.
Under Armour and adidas will both come hard at Antetokoumpo, but the real wild card is Nike and what their plans are for the future of the Greek Freak. They have a match clause, giving them right of first refusal on any offer he receives from a competitor, which means they will determine whether he stays or goes based on whether they’re willing to come to the table with the money and signature shoe he’ll almost assuredly be promised from others.
DePaula explained how Under Armour seemingly has the inside track to Antetokoumpo as he is represented by the same agency as Steph Curry, Under Armour’s crown jewel, among other connections, but adidas has a hole to fill on their roster for an above the rim playing wing opposite their stable of point guards with signature sneakers. DePaula also notes that Antetokoumpo will have to be willing to change his ways in order to make a lucrative shoe deal work, considering he’s worn the same pairs of Nike Kobe X sneakers for two years, refusing to take on some of Nike’s newer looks.
The brand made him a custom pair of the new Kobe A.D. for the 2017 All-Star Game, yet he still opted to switch back into his beloved Kobe X just before tipoff. At one point, the brand even wanted him to debut the new React Hyperdunk 2017 during this year’s playoffs — but he stuck with the Kobes. He has rotated through four simple pairs, in black/white, white/black, green/white and white/green. Several star players wear a brand new pair for every game; his pairs show every last scuff and crease.
That comfort with Nike sneakers could give them a leg up in retaining his services. While Under Armour and adidas may want him to become a face of their brand and at Nike he’d have significant competition with Kevin Durant and LeBron James as stars ahead of him in terms of marketing importance, they could offer him a signature shoe designed that stays close to the Kobe X’s feel with other aesthetic changes to not be a duplicate that may make him more comfortable than changing brands and technology altogether.
NBA free agency may be almost over, but come late September and early October, Antetokoumpo’s sneaker decision will be fascinating to watch.
