Kristaps Porzingis and Adidas have agreed to a multiyear contract that is the richest shoe and apparel deal for a European player in NBA history.
Porzingis and Adidas agreed earlier this month to a contract worth $3 million to $6 million annually, ESPN sources confirm. Nike, Porzingis’ previous endorser, had an opportunity to match the Adidas offer but declined to do so.
“I’m happy to be here and it just felt right to be with Adidas,” Porzingis said in a statement. “There’s a lot of excitement right now, and I feel like it’s the right fit for me. A city like New York is hungry for success in basketball, and I believe Adidas will help take my game to the next level. I’m a unique player and Adidas is a unique brand. I’m just excited to join the family.”
Porzingis, a second-year Knicks forward from Latvia, averaged 14.3 points, 7.3 rebounds and 1.9 blocks per game last season. According to Basketball Reference, Porzingis is the only rookie in NBA history to exceed 1,000 points, 500 rebounds, 75 3-pointers and 100 blocks in a season.
His success last season endeared him to the Knicks fan base and proved to be a strong marketing tool. Porzingis finished fourth in jersey sales last season, according to the NBA.
“There has never been a player in the league like Kristaps, and his love for basketball culture speaks volumes,” Michael Ladinig, Adidas’ senior director of sports marketing, said in a statement. “He’s changing how the game is played and is an ideal ambassador for Adidas as we … show fans in New York and worldwide what the next generation of Adidas Basketball is all about.”
The Vertical earlier reported the agreement and the annual value of Porzingis’ contract, which fluctuates depending on incentives.
Multi-Million dollar endorsement deals aren’t new, but as of late, one in particular has come under scrutiny. Professional basketball player Chris Bosh was recently featured in a television commercial endorsing the blood thinner Xarelto as a safe and effective treatment for blood clots.
The basketball star, who had to sit out games with the Miami Heat after suffering from blood clots in his lungs, was one of a group of celebrity endorsers touting the product that has unfortunately been alleged to cause severe adverse side effects.
The Miami New Times is reporting that thousands of patients have filed Xarelto lawsuits after suffering from internal bleeding injuries allegedly caused by the medication.
FIBA & WNBA athletes are well acclimated to life on the road and to professional athlete relocation. Companies like PARLV specialize in making the transition for athletes like Dorsey as easy as possible. If you are in the throes of contract renegotiation or have already been traded, let Professional Athlete Relocation at Lowell & Vanderbilt, Inc (PARatLV) handle your needs!
If you would like to learn the art of relocating professional athletes and assisting them in the acquisition of their home or real estate, visit the College of Real Estate of Real Estate, one of the Best Los Angeles Real Estate Schools locally. Get your real estate license and start working with the Pros.