John Wall signs $25 million deal with Reebok
Posted by ZA on June 10, 2010
John Wall, the University of Kentucky standout, who is likely to be the #1 pick in the upcoming NBA Draft has signed an endorsement deal with Reebok. The endorsement deal is reported to be a 5-year deal worth approximately $25 million dollars ($5 mil per year). The deal reported includes two signature shoes that will be designed by Reebok for the young basketball star.
This deal by Reebok is a huge step up from what recent draft picks have received from shoe endorsement deals. It signals that Reebok plans to make John Wall the centerpiece of their basketball marketing efforts. In 2009, the top NBA Draft pick, Blake Griffin signed a reported $400,000 per year annual deal with Nike. In 2008, Chicago Bulls top pick Derrick Rose signed with Adidas (who owns Reebok) for an undisclosed sum that was likely in the $1+ million per season range. Which means the last deal for a top pick that was on par with Wall’s deal was the $8+ million per year deal that 2008 #2 pick Kevin Durant signed with Nike.
The deal that Durant signed with Nike in ’08 was much larger than the deal that #1 pick Greg Oden received from Nike. Nike has made Durant one of their top endorsement stars over the past few years, which is a pattern that Reebok is sure to repeat with John Wall. Reebok’s other top NBA endorsement stars include Allen Iverson, Yao Ming & others.
[Assist: Sports Business Daily]