Nike has invested in the NFL’s most lucrative footwear deal to date after agreeing terms with New York Giants star Odell Beckham Jr.
The US sports brand saw off interest from rival Adidas to sign the 24-year-old wide receiver who has become one of the league’s most marketable players since he was drafted by the Giants in 2014.
According to reports by ESPN, Beckham Jr has agreed a five-year deal worth in the region of $5m per year. The sum is understood to be almost double that of any of Nike’s previous endorsement contracts with NFL players.
Beckham Jr’s current contract with Nike expired on 1 May and, under the terms of the contract, the company had a 10-day window to match any offer from another brand. Adidas was reportedly considering signing the star and its interest is believed to have driven up the value of the endorsement deal.
NFL analyst Ian Rapoport reported on Twitter that a clause in the agreement could see Nike extend the deal to eight years.
#Giants WR Odell Beckham Jr new Nike deal has a clause that turns it into an 8-year deal, source said. Nike matched Adidas' offer to seal it
— Ian Rapoport (@RapSheet) May 23, 2017
In addition to his partnership with Nike, Beckham Jr has commercial deals with Exos Performance Nutrition, Trojan, Roar Beverages and Steiner Sports.
Last year he was ranked 13th in SportsPro’s annual list of the world’s 50 most marketable athletes, the highest of any NFL player and just two places behind UFC star Conor McGregor.
While Nike's deal with the New York Giants star is the most lucrative in the NFL, it pales in comparison to the lifetime agreements it has with LeBron James and Cristiano Ronaldo, who earns an estimated $27m per year from the brand.