How Nike Missed Out On Anthony Edwards
NBA superstar Anthony Edwards signed with Adidas in 2020, after playing two games of his rookie season. The Minnesota Timberwolves guard agreed to an extension with the company in July of 2024.
With most NBA stars signing with Nike, many were surprised to find out that Edwards chose to sign with Adidas. This video explains how Nike and Jordan Brand missed out on Ant Man.
Adidas, Lessons Learned
The Adidas chapter of the video discusses how the company had an opportunity to sign Michael Jordan and LeBron James. With Michael, the company refused to give him a signature sneaker. After Jordan got an offer from Nike, he gave Adidas an opportunity to match it, but they refused.
With LeBron, they made him a low ball offer, which gave Nike the chance to come in with a $90 million contract that James agreed to. After missing out on both Jordan and James, Adidas was determined to get things right this time, and they were able to land Anthony Edwards.
COVID
A few months before the COVID-19 pandemic, Nike completed a $1 billion expansion of it Oregon headquarters. The new office space has been not been used for years because employees have been working from home. Nike is the official sponsor of the NBA, so when the league cancelled the season due to the pandemic, Nike’s stock plunged.
The 2020 NBA Draft was pushed back 5 months, causing additional financial strain at Nike, leading to frozen sports marketing budgets. The NCAA tournament was also cancelled. Ultimately, Nike was working hard to adapt to the pandemic, and wasn’t in a position to sign any new athletes.
The Decline of Basketball Sneakers
This section discusses how basketball sneakers are no longer as popular as they once were. Leisure footwear, including Nike Dunks, Air Force 1s and Crocs and more popular than signature basketball sneakers. Although the signature basketball sneaker industry as a whole is struggling, Jordan Brand continues to enjoy massive success with a 6% sales gain to reach $7 billion in revenue for fiscal year 2024.
While Nike may have been interested in Edwards, they may not have been willing to pay him what he’s worth, considering the decline of signature basketball sneakers. It’s difficult to get a return on investment with the industry in its current state. Nike might be more interested in trying to find the next Virgil, Kanye West or Travis Scott.
Nike’s Greatest Hits, NBA Signature Sneakers
Some of the most popular Nike NBA signature sneakers are discussed in this section. Some of the shoes that made the list include Michael Jordan’s Concord 11s, Penny Hardaway’s Foamposites, Vince Carter’s Shox BB4s, the Air Garnett 3 and the Kobe 4s, Carpe Diem.
These classic sneakers are discussed to highlight how much more experience Nike has had with NBA athletes compared to Adidas. This is why it would make sense for Edwards to consider leaving Adidas and signing with Nike.
Nike Marketing
This section examines some of Nike’s most successful marketing campaigns for its NBA signature athletes. Some of the campaigns mentioned include Michael Jordan and Spike Lee’s Mars Blackmon commercials, Charles Barkley’s I Am Not a Role Model ads and Kobe and LeBron’s puppet campaign. Anthony Edwards and Adidas have released commercials that focus on other brands and critics, whereas Nike’s marketing put their signature players first.
Jordan Brand
This section discusses Edwards possibly signing with Jordan Brand, joining Jayson Tatum, Zion Williamson and Luka Doncic. With all the comparisons to Jordan, Edwards would be able to make some amazing marketing content that could highlight how similar he is to Jordan. While Jordan Brand is earning massive amounts of money, Edwards should focus on building his own signature line instead of signing with Jordan.
The Future
This chapter summarizes how Kobe Bryant left Adidas for Nike after the Kobe 2 released. Bryant paid $8 million to get out of the contract and he eventually signed with Nike. Kobe released some of the best basketball sneakers of all time with Nike, so Anthony Edwards should consider following his lead.
Chapters:
00:00 | Introduction
00:57 | Adidas, Lessons Learned
04:05 | COVID
07:59 | Decline of Basketball Shoes
10:18 | Nike’s Greatest Hits
13:33 | Nike’s Marketing
15:03 | Jordan Brand
17:16 | The Future
#anthonyedwards
#nba
#nikebasketball
__________
Thank YOU for watching!
Don't forget to:
1️⃣ Like 👍
2️⃣ Subscribe 💌
3️⃣ Tap that Notification Bell 🔔
Смотрите видео How Nike Missed Out On Anthony Edwards онлайн без регистрации, длительностью часов минут секунд в хорошем качестве. Это видео добавил пользователь Empire BBK 08 Август 2024, не забудьте поделиться им ссылкой с друзьями и знакомыми, на нашем сайте его посмотрели 394 раз и оно понравилось 13 людям.