Behind the biggest Nike shoe deals

Nike isn’t short on celebrity endorsements, particularly those that come from top athletes.

With the roll-out of sportsbooks in the US creating hype around leagues like the NBA and offers from top brands, there’s added interest in celebrity athletes like LeBron James, Kevin Durant, Giannis Antetokounmpo, Kyrie Irving, and Paul George.

All five stars have something extra going for them: they’ve penned long-term contracts with Nike for signature shoe deals.

The brand also has sponsorship deals with top athletes like Cristiano Ronaldo, Tiger Woods, Rafael Nadal, but these partnerships don’t cover the infamous ‘shoe deal’.

So, what is Nike’s shoe deal and how has it contributed to the NBA’s massive popularity worldwide?

Diversifying basketball as business

Beginning with Michael Jordan (mentioned below), Nike positioned itself to roll-out brand new sneaker designs in tandem with top athletes (NBA and beyond).

This is one facet of the NBA’s hugely successful fashion sector, which also includes jerseys and fitted caps with team logos.

The popularity of NBA fashion may seem odd, but the league regularly focuses on rolling out new jersey designs to entice the fashion-forward. Aside from the catwalk, the league is also involved with NFTs through its Top Shot marketplace and VR with its League Pass subscription.

Additionally, the rollout of sportsbooks throughout the US has stoked interest from those checking out offers from top brands that cover the league. The NBA, with over 2,000 games each season, is a bettor’s delight. 

Viewed as a formidable business, Nike shoe deals are one facet of what makes the NBA an important league worldwide, even for those who have no interest in basketball. Let’s take a look at how Nike and the NBA first got started.

The OG deal: Michael Jordan

Back in 1985, Nike rolled out a brand new sneaker design called the Air Jordan, which was created with Michael Jordan.

At the time, Michael Jordan was at the start of his career with the Chicago Bulls, which means Nike found itself poised for greatness when Jordan’s career took off shortly after. 

Today, top basketball stars pen deals with Nike, and Nike then rolls out a new sneaker design with their name on it. But Jordan’s early deal with Nike wasn’t just a sneaker design; it was an entirely new type of shoe that ushered in the era of athleisure and sneaker culture in the US.

Furthermore, the ubiquitous ‘Jump Man’ logo on each Air Jordan is taken from the star player’s infamous dunk. Compared to other Nike deals, Jordan’s contract is big money.

Forbes estimates Jordan brings in around $130 million per year from his contract with Nike today, even after almost 40 years since releasing the first design.

LeBron James

Back in 2019, the NBA’s biggest current star (and breakout player of his generation) brought in around $32 million from his Nike sneaker deal. This made up about half of LeBron’s off-court earnings, which totaled $89 million.

Back in 2003, LeBron signed his first deal with the athletic retail brand.

The Nike Air Zoom and the Nike Zoom LeBron 2 quickly became popular for athletes for its cushioning design, but have since diversified greatly. The last release, the Air Max Zoom LeBron 18, is a colourful rehash of the original Air Zoom.

To date, LeBron James is one of three athletes to have lifetime deals alongside Michael Jordan and Cristiano Ronaldo.

Kobe Bryant

When legend Kobe Bryant passed away in 2020, he still had a remaining year on his Nike shoe deal.

Though retired in 2016, Kobe would continue to release new designs until 2021. This means his shoes are some of the most sought-after in the industry, as Nike opted for a limited release format for his posthumous designs.

However, this has caused a bit of friction. Given how lucrative sneaker collectorship is, the limited quantity of Kobe releases will mean average sneaker enthusiasts and Kobe fans won’t be able to afford his posthumous releases.

Currently, Kobe’s widow, Vanessa Bryant, is in talks with Nike to expand the production and release of the star’s last design.

This highlights the core of the sneaker deal: immortalising an athlete’s top years and legacy. It’s not just about sporting the latest Nike release, but also about identifying with an athlete’s prestige and renown.