October 25, 2016 | 4:53 pm EDT Update
The deal, negotiated by agent Andy Miller of ASM Sports, pays the New York Knicks power forward between $3 million and $6 million annually. That starting range could escalate each year based on several performance incentives such as point-average thresholds, playoff appearances and All-NBA or All-Star team selections. His previous brand, Nike, held a “right to match” clause and waited until the very end to decline to match adidas’ offer.
The fact Porzingis was a sneaker free agent was a mostly unprecedented case. Typically, rookies drafted at the top of the first round sign a four-year sneaker deal, but Porzingis signed a four-year contract with Nike for $25,000 when he began his pro career in Spain at 17. “What made it unique was that [the deal] wasn’t over by the time he was drafted,” Chris Brantley, vice president of marketing at ASM Sports, told The Vertical before Porzingis entered into negotiations with other brands. “He still had one year to go, and we had him play out the year and bet on him. We bet that he would have a good season and put himself in position to get a nice contract when it expired.”
Calvin Watkins: Mike D’Antoni told reporters today it was hard to release Pablo Prigioni. Expect to see Tyler Ennis get some minutes at point guard behind James Harden.