NBA SUPERSTAR Dwyane Wade is reported to have signed an endorsement contract with Chinese sports apparel manufacturer Li-Ning.
According to US sources, Wade, a point guard for Miami Heat, opted not to extend his contract with the Nike-owned Jordan brand when it expired on October 1.
Official confirmation of Wade’s tie-up with Li-Ning is expected next week when the Heat travel to China to play two exhibition matches against the Los Angeles Clippers.
It is likely Li-Ning, which is relatively unknown in the US and sits behind Nike as the number two sports brand in the Chinese market, will have offered Wade a multi-million dollar contract to convince him of the switch.
The deal represents further expensive commercial activity by Li-Ning having agreed a landmark partnership with the Chinese Basketball Association (CBA) last month.
Under terms of the deal, valued at around $315 million, Li-Ning will provide apparel to all 17 CBA League teams and obtain an extensive marketing and broadcast rights package.
While the deal with the CBA will consolidate the brand’s presence in its domestic market, signing Wade to an endorsement contract has the potential to further grow the brand in the US if leveraged in the right way.
Similarly, with the NBA’s ever-expanding fan base in Asia and sales of Wade’s signature Jordan shoe lines dwindling in the States, a refocus of brand D Wade in China and beyond could prove a marketing masterstroke.
Despite having been under the Nike umbrella brand since entering professional basketball in 2003 – first with Converse before switching to Jordan in 2009 – it is thought by some that Wade’s departure will not have a significant impact on the company’s bottom line.
“My estimate is that Wade’s signature product sold $15 million to $20 million last year in retail, and for a billion-dollar brand, that’s pretty minor,” SportsOneSource analyst Matt Powell told Footwear News. “Nike basically stepped aside because I don’t think it finds the same value in individual player endorsements.”
By Luke Harman
Follow Luke on Twitter: @lukeharmanSBG