CHICAGO BULLS point guard Derrick Rose has secured a multi-year endorsement renewal contract with sports apparel giant adidas.
Various reports cite the value of the deal at between $185m and $260m depending on bonuses and incentives, over a period of 13 or 14 years.
Regardless of the specifics, the deal represents a mammoth uplift in endorsement earnings for the 2011 Most Valuable Player (MVP), with his previous four-year agreement with adidas, signed when he joined the professional game in 2008, valued at around $1.5m per year.
Rose has been the focal point of adidas marketing initiatives in the US in recent years and has emerged as one of the brand’s leading athletes. He was awarded adidas ‘partner of the year’ at the ‘Dassler Awards’ in November 2011.
The new contract is a realisation of the 23-year-old’s value to adidas, which recently launched the player’s signature basketball shoe line adiZero Rose 2.5, and an indication of just how eager the brand is to keep hold of its star asset.
Rose’s other sponsors include earphone manufacturer Skull Candy, sports nutrition company Force Factor and Coca-Cola-owned sports drink Powerade.
The 2008 Rookie of the Year has also partnered with sports goods brand Wilson to help design the D. Rose signature line of basketballs that are “a reflection of his style and performance on court.”
Responsible for negotiating Rose’s endorsement deals is Benjamin Armstrong, vice president of Basketball Management at Wasserman Media Group. Acting on the adidas side was Lawrence Norman, vice president, Global Basketball.
By Luke Harman
Follow Luke on Twitter: @lukeharmanSBG