Professional sports revenue has exploded in recent years. From skyrocketing franchise valuations to exploding athlete salaries, more money is being thrown around the pro sports world than ever before. This is all to say: So many aspects of sports are finally catching up with…sneaker endorsements.
You read that correctly. When it comes to pro sports and the money associated with it, the focus tends to land with media rights deals, ticket and memorabilia price tags and the additional revenue from sports betting. The latter, specifically, is front and center in recent years.
Ever since the Supreme Court of the United States overturned the Professional and Amateur Sports Protection Act back in 2018, individual states are allowed to decide the fate of legal sports betting. That has led to a massive rise in popularity for the industry. We are not just talking about the United States, either. The additional exposure has an international impact, from people who bet with Canada sportsbooks to those who bet with European sportsbooks.
Anyway, zeroing in on this impact makes sense. Legal sports betting has opened up revenue streams that dramatically benefit pro leagues, franchises, and the athletes who make them go ‘round.
Still, before the hyper-focus on sports betting money, before we even understood the importance of media rights deals, there was the sneaker endorsement. Large companies paid recognizable names lots of money to wear their footwear. In some cases, they would model entire sneaker models after a player.
This practice holds strong today. Sneaker deals continue to pay out big-time money, and everyone from current to aspiring athletes love the idea of having their own colorway, if not specific model.
Of course, this invariably raises the question: How much money are sneaker deals actually worth? As we go through the biggest sneaker deals ever signed by athletes, we are confident some of these numbers will shock you.
Michae Jordan and Nike
This one is tough to pin down in exact terms. Michael Jordan initially signed a six-year deal with Nike upon entering the NBA in 1984 worth a reported $2.5 million. That was considered quite expensive for the time, and it would be worth around $7.8 million today when accounting for inflation.
As it turns out, this proved to be just the tip of the iceberg. Jordan morphed into what many consider the greatest NBA player of all time. In doing so, he set himself up not just for his own sneaker, but his own spinoff company, otherwise known as the Jordan Brand.
Fast forward to today, and in the most recent fiscal year of 2024, the Jordan Brand did over $7 billion in total worldwide sales. While it is difficult to assess just how much MJ continues to make off this, his net worth of nearly $4 billion says it all.
LeBron James and Nike
If you are sensing a theme here, well, you are absolutely right. Sneaker deals tend to be most lucrative for NBA players. Their footwear isn’t just functional; it has become a fashion industry all of its own.
When LeBron James entered the NBA back in 2003, as a teenager, he reportedly signed a seven-year contract with Nike worth a record $87 billion. That’s quite an investment in a prospect who had yet to take the court.
In the end, this became chump change. Back in 2015, LeBron James signed a lifetime deal with Nike worth a reported $1 billion. Yes, that’s “billion.” With a “b.” The timing was perfect for the four-time champion. His LeBron colorways did over $340 million sales during the preceding year.
While LeBron does not have his own brand like Jordan, he and NIke are about to be 23 editions deep into their relationship together. His line has also branched out into lifestyle kicks and even football cleats.
Neymar and Puma
Professional soccer players are some of the most well-compensated athletes in the world. Especially off the pitch.
Look no further than Neymar’s deal with the Puma brand as proof.
After 15 years under the Nike umbrella, the superstar forward left for Puma, signing a deal that’s believed to be worth around $30 million per year. That is easily one of the five most lucrative shoe endorsements of all time for a pro soccer player.
What’s more, Puma uses Neymar as its face for other lines, including lifestyle shoes. The deal he signed in 2015 is believed to be a move that convinced Puma to expand their reach into other sports, as well.
Serena Williams and Nike
Another theme you’re probably sensing here: NIke sure has deep pockets.
Though known mostly for their lucrative investments in NBA players, Nike has also cut its teeth identifying some of the biggest tennis superstars. Serena Williams is one such example.
Back in 2003, she signed an eight-year deal worth $55 million total. Since then, though, her value to the company has only skyrocketed. She now has her own line with Nike called the
Serena Williams Design Crew.
Stephen Curry any was up for a new contract, he obviously had a lot of leverage. Many wondered whether he might price himself out of Under Armour. Instead, the company offered him a lifetime deal, including an equity stake, that’s believed to be worth over $1 billion when all’s said and done.
