Odell Beckham Jr. should be smiling wide this week, this after adidas offered the New York Giants star the most lucrative shoe contract in history for an NFL player. Nike stepped up and matched the offer, resigning Beckham and will expand on his brand and marketing capabilities.
Much like restricted free agency in pro sports, during negotiations, all along Nike reserved the right to a “match clause,” allowing them to fully match any agreed upon term sheet from a competitor and retain Beckham Jr.
That 10-day match window ended today — with Nike exercising its right to match. The deal is believed to be worth more than $29 Million over the 5-year length, with additional incentives that could add another million to each year of the deal.
If certain triggers of the deal are met, the deal could escalate to a value of as much as $48 Million over 8 years. It is by far the most lucrative endorsement deal for a NFL player to date.
NikeKicks.com points out that the Nike deal pays Beckham more than his current NFL contract does.
The Giants just picked up Beckham’s fifth-year option, which will reportedly pay him $8 million in 2018 and keeps him off the free-agent market until the following season. No doubt teams will be clamoring to dangle dollars in front of the talented 24-year-old at that point as he enters the prime of his career.