NBA players are unquestionably among the world’s highest-paid athletes, with some earning the majority of their fortune from a variety of sources, including their wages and lucrative brand endorsement deals.
These endorsement partnerships cover a wide range of products, from vehicles to clothing to other high-end items. However, one of the most popular NBA endorsement deals is shoe deals. Since the 1980s, NBA players have received lucrative multimillion-dollar contracts. Here are seven of the most profitable shoe sponsorship deals in NBA history, highlighting some of these deals.
Michael Jordan
Micheal Jordan, an NBA legend, struck a deal with Nike in 1984, which gave birth to the Air Jordan brand shortly after. Prior to signing a contract with Nike, the brand trailed market leaders such as Adidas, Reebok, and Converse.
After originally rejecting Nike’s offer, Jordan changed his mind and began working on his own shoe line, which resulted in the design and release of Air Jordans.
According to Forbes, Nike first offered Jordan a five-year contract with a basic salary of $500,000 per year, which was treble the salary of any previous NBA sneaker agreement. The initial Air Jordan sneaker was an instant success, selling $126 million in the first year.
As the Jordan brand grew in popularity, so did his salary. Jordan reportedly received $130 million from Nike in 2020, which Forbes thinks was four times more than LeBron James earned.
Forbes stated that the Jordan brand made $3.1 billion in revenue in the fiscal year ending May 2019. According to Forbes, the brand is easily “worth north of $10 billion, in addition to the billions of dollars in profits it has generated over the last 35 years and its halo effect on sales of other Nike-branded products.”
How Africa claimed in 2021 that Jordan’s 36-year contract with Nike had paid him $1.3 billion and counting. Forbes estimated his net worth to be $1.7 billion at the time of releasing this report.
LeBron James
According to Forbes, LeBron James will become the first active NBA player to become a billionaire in 2022. His net worth is believed to be $1.2 billion.
James secured a lifetime contract with Nike in 2015. He has worked with the clothing company since signing a $90 million contract before graduating from high school. According to CBS News, the agreement will fund his retirement. Meanwhile, the deal’s financial specifics have not been published.
Kevin Durant
Durant began his professional NBA career after being picked by the Seattle SuperSonics for the 2007 season, which became the Thunder after the franchise relocated to Oklahoma City. For the season, he was awarded NBA Rookie of the Year. He finished third as the Most Improved Player in the 2009 season. Durant was selected to the first NBA All-Star Game during the 2009-10 season, and he went on to become the NBA’s youngest scoring champion with a point total of 30.1 points.
According to Sportico, Durant has earned $580 million in his career and will most certainly become a billionaire as an active player. Furthermore, when his 10-year Nike contract finishes in 2024, he will be owed almost $85 million.
Stephen Curry
Curry made around $50 million in salary and sponsorships between June 2016 and June 2017. Sources speculated that he earned $76.9 million between June 2017 and June 2018, however Face2Face Africa cannot corroborate this.
Curry’s off-court earnings are anticipated to be $42 million, with endorsements from Under Armour, Chase, Vivo, eHi, Nissan/Infiniti, Brita, Bubble, and JBL.
According to Forbes, Under Armour, which pays Curry $20 million a year, plans to launch Curry’s Brand in November 2020, with the goal of competing with Nike’s Jordan Brand. His shoe sales reportedly surged, providing the company with a much-needed windfall.
Kobe Bryant
Nike discontinued its collaboration with the Bryant estate in 2022, which means the estate is free to pursue any contract it wants.
Bryant got his first contract with Nike in 2003, after leaving Adidas when he first entered the NBA in 1996. It was one of Nike’s largest basketball contracts. The company created several lines of Kobe shoes and apparel. In April 2016, he inked an endorsement extension. The transaction is reported to be worth $12 million.
Dwyane Wade
Dwyane Wade won three NBA titles with the Miami Heat, the first in 2006, the second in 2012, and the third in 2013. He announced his retirement from the NBA after the 2018-2019 season. According to CNBC, over his 16-year NBA career, he earned $200 million in salary and $17 million in endorsements.
According to ESPN, Wade signed a lifetime contract with Li-Ning in 2012. He began his career with Converse and afterwards with Jordans.
Kyrie Irving
Nike has signed Kyrie Irving to a show contract. Since its publication over five years ago, the deal has apparently been one of the best-sellers. The transaction is estimated to be worth $11 billion.
However, Nike will part ways with Brooklyn Nets player Kyrie Irving in 2022. The development follows a contentious social media post regarding a book and movie that contain antisemitic stereotypes.