Adidas announced Monday that Portland Trail Blazers All-Star guard Damian Lillard has signed a contract extension with the company. Lillard has been with the sneaker company since he was drafted in the 2012 lottery and had the ability to opt out of his current deal this summer.
Brian Windhorst of ESPN.com reports the extension's terms.
The deal, which can extend to 10 years, could be worth up to $100 million including incentives and options, sources told ESPN.com. It's believed to be the largest shoe deal since Derrick Rose signed a 13-year deal in 2012 that could be worth more than $185 million. LeBron James and Kevin Durant, both of whom are with Nike, are the highest-earning active players when it comes to shoe endorsements.
Sam Amick of USA Today Sports reports...
While the exact figures of the eight-year deal were not immediately known, a person with knowledge of the contract said it is smaller only than that of Chicago Bulls point guard Derrick Rose (reportedly $185 million over 13 years with Adidas) and the Miami Heat's LeBron James (reportedly $20 million annually with Nike) among NBA players. If certain incentives are met, the deal could extend to 10 years.
Chris Haynes of CSNNW.com reports...
The deal, according to another source, is an eight-year contract that has the potential to stretch out to 10 years if he reaches certain incentive clauses. We've confirmed Lillard's new contract is slightly less than that of Derrick Rose.
Due to Lillard reaching certain performance incentive clauses in his adidas rookie shoe deal, he was able to opt out at the end of the season to pursue a long-term, prosperous contract with adidas, Nike or other major competitors. Instead of waiting, Lillard's representatives gave adidas an exclusive 30-day window to renegotiate before checking out other offers. That 30 days was up on April. 1.
Haynes reported earlier this month that Adidas and Lillard were close to an extension.
Here's the Adidas release.
adidas today announced a long-term partnership extension with NBA All-Star point guard Damian Lillard of the Portland Trail Blazers. The young star will continue to be an integral part of adidas Basketball's marketing campaigns, product launches and global initiatives moving forward.
"adidas has been great to me over my first two seasons," said Lillard. "I've had the opportunity to wear a lot of great product, help design special versions of shoes, be a part of TV commercials and travel the world with the brand. I'm excited for what the future holds for me and adidas."
Lillard's dedication to basketball brought immediate success in his young NBA career, including being named the unanimous Kia NBA Rookie of the Year. This season, Lillard took another step forward, earning a spot on the Western Conference NBA All-Star team where he also became the first player to complete in all five events at All-Star weekend. Lillard's improvement has led to team success, as the Trail Blazers have clinched a playoff spot in the tough Western Conference for the first time in three seasons.
"Damian has proven to be not only an amazing basketball player, but a great partner, member of the community and someone who creates excitement for our products," said Chris Grancio, adidas head of global basketball sports marketing. "His leadership and commitment to success on the court and his ability to interact and relate to fans through social media and the community make him the perfect fit to be one of the cornerstones of the adidas brand."
After being overlooked by large collegiate programs coming out of high school in Oakland, Calif., Lillard attended Weber State University where he excelled for three seasons. Lillard quickly raised his draft status in 2012 where he was selected by the Portland Trail Blazers with the sixth overall pick. Lillard is currently averaging 21 points, six assists and four rebounds per game for the Trail Blazers.
Other adidas athletes include Derrick Rose of the Chicago Bulls, WNBA MVP Candace Parker and FIFA World Player of the Year Lionel Messi FC Barcelona.
Adidas released Rookie of the Year sneakers for Lillard last year and unveiled "Rose City" shoes for Lillard last month. The company also offered black-and-red All-Star sneakers for Lillard in New Orleans back in February.
Those in the sneaker world expected Lillard to remain with Adidas, whose major NBA endorser, Chicago Bulls guard Derrick Rose, has missed most of the last two seasons with knee injuries.
Lillard, 23, has averaged 20.8 points, 5.6 assists and 3.6 rebounds per game this season.
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