Milwaukee Bucks star Giannis Antetokounmpo is entering the final year of his endorsement deal with Nike and his next contract could be unprecedented.
According to Nick DePaula, the Greek-born basketball star makes $25,000 annually on his current deal. His original contract was intended for him playing in Spain, where he signed a four-year contract before he instead declared for the NBA Draft. He never played in Spain, but was locked into the sneaker deal.
However, DePaula believes he will earn similar to what Kristaps Porzingis signed on his last shoe contract: approximately $5 million in a base salary with an earning potential of around $7 million. Here is what DePaula said about what this means for Antetokounmpo (via ESPN):
That price range has become the starting point for expectations on the offers that Antetokounmpo and his camp are planning to hear later this month. “The bar was set with Porzingis, in terms of financials,” says one brand source. Some industry sources feel the Greek Freak could be looking at as much as $7-10 million annually on a new five-year endorsement deal.
Forbes had a similar estimate from a report in June. They said insiders believe he could make between $8 million and $10 million per season.
While both Under Armour and adidas have reportedly shown interest in signing him, Nike has a “match clause” to re-sign him albeit at a presumably expensive price. He is described as a “creature of habit” and has worn Kobe X Low sneakers for the past two seasons.
Regardless, he will hold pitch meetings with other brands in the coming weeks and is expected to ask for a signature shoe that would launch in the 2018-19 season. He would earn five percent of all shoes sold in the United States.
Adidas may be looking to add a wing to their signature shoe line, as they currently only have guards. DePaula described this in more detail:
The brand had hoped that Timberwolves rising phenom Andrew Wiggins could fill that role, but internally there has been strong hesitation about whether Wiggins could carry his own signature shoe. Antetokounmpo’s game is already more established and more accomplished, leading the company to look at making a massive offer that could steal him away from Nike.
There is also a massive connection to Under Armour as Antetokounmpo shares an agent with Stephen Curry. Meanwhile, the brand’s sports marketing director is longtime friends with Milwaukee head coach Jason Kidd.
During the season, Antetokounmpo declined an offer to begin renegotiation with Nike so as to instead focus on his basketball performance.
No matter what company he chooses, expect Giannis to be the next NBA player with his own signature shoe.