Projected top pick Ben Simmons hasn’t signed a shoe deal yet. He’s waiting until after the NBA draft lottery.
Adidas and Nike are offering five-year endorsement deals, but Simmons is hoping to land a bigger offer from Nike if he’s drafted by the Los Angeles Lakers. From The Vertical’s Nick DePaula:
Adidas is offering a $10 million deal that also includes a $2 million signing bonus and a $1 million incentive bonus for being named Rookie of the Year. There are also several other on-court performance triggers that would provide Simmons with elevated marketing, extra resources and possibly his own signature shoe should he play at an All-Star level.
Nike is offering $7.5 million over five years with fewer performance incentives than the adidas contract structure. Nike, which presented second to Simmons last week, has shown an unwillingness to budge, sources said. Both offers are considered fair for a top pick.
The early strategy from Simmons and his Klutch Sports Group representation was believed to be a desire to sign a shoe deal before the draft lottery, but they aren’t satisfied with the Nike offer, sources said. They’re hoping that if the Lakers land the top overall pick – which they have a 19.9 percent chance of doing – Nike will move closer to matching adidas’ offer.
A bigger market team like the Lakers would give Simmons more exposure, which might entice Nike. Rich Paul, the agent for Simmons, is also the agent for Nike signature athlete LeBron James, so he would prefer to have Simmons sign with Nike.
Within Nike’s Beaverton, Ore., headquarters, several high-ranking executives don’t believe that Nike-dominant Klutch Sports would agree to an endorsement deal with adidas.
But if the Lakers fail to get the No. 1 pick or trade it away, then what for Simmons?
Either way, you know Simmons and his agent will be watching the draft lottery with their fingers crossed.