Nike Outbids Under Armour for Kevin Durant

Oklahoma City Thunder forward Kevin Durant. Ronald Martinez/Getty ImagesUnder Armour’s plan to steal one of Nike’s biggest endorsements has failed.

The Baltimore-based company lost its bid for basketball star Kevin Durant over the weekend, ESPN reports.

Under Armour had reportedly offered the Oklahoma City Thunder forward between $265 million and $285 million, which would have been company’s biggest endorsement deal ever.

But Nike exercised its right to match the offer, and Durant decided to stay with the company. The overall value of the new deal could amount to more than $300 million, according to ESPN.

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