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The 'Greek Freak' to land unprecedented sponsorship contract

Nike is keen on paying NBA star Giannis Antetokounmpo $50 million for an endorsement deal

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NBA star Giannis Antetokounmpo.

23 August 2017

Greek NBA star Giannis Antetokounmpo is about to land an unprecedent contract with Nike for the final year of his endorsement deal with the sports shoes giant. The Milwaukee Bucks forward makes US$25,000 (A$31,688) per year, under his current contract, which he signed when he was about to play in Spain, before his NBA draft.

According to USA Today - and its basketball blog, Hoopshype.com - his new contract will make up for any loss he might have experienced, in the four years he's been locked in the Spain contract. The blog quotes sports marketeer Nick DePaula, an expert on the athletic shoes industry, estimating that Antetokounmpo has been negotiating a deal similar to Kristap Porzingis, that is a base salary of US$5 million (A$6.3 million) in a base salary with an earning potential of around US$7 million (A$8.8 million). "Some industry sources feel the Greek Freak could be looking at as much as US$7-10 million (A$8.8 - $12.6) annually on a new five-year endorsement deal."

Nike is not the only footwear giant setting eyes on Antetokounmpo. Both Under Armour and Adidas have expressed interest in signing him, though Nike's 'match clause' to re-sign the 'Greek Freak' gives priority to this deal, which is bound to confirm his star status, with a 'signature shoe' (the only 'forward' in Nike's current roster) expected to be launched in the 2018-19 season. This would see him earning five per cent of all shoes sold in the United States, on top of his base deal.

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