Kentucky guard John Wall, the projected No. 1 pick in June's NBA draft, has reached an endorsement agreement with Reebok worth $25 million over five years, sources tell Yahoo! Sports.
Reebok made an immense investment with the charismatic and explosive guard, believing that Wall can replace Allen Iverson(notes) as the brand’s superstar. Wall’s reps, Dan Fegan of Lagardere Unlimited and Brian Clifton of Pindar Enterprises, negotiated a rare two guaranteed signature shoes for Wall.
The deal exceeds what most industry insiders believed even Wall, a spectacular talent, could get in this marketplace. In the declining economy, shoe companies have become more judicious about handing out such big guaranteed deals to rookies. The No. 1 pick in the 2009 NBA draft, the Los Angeles Clippers’ Blake Griffin(notes), was reported to have signed for $400,000 annually with Nike. Milwaukee Bucks guard Brandon Jennings(notes) had a more lucrative deal with Under Armour that he signed out of high school, worth approximately $2 million over four years.
Reebok and Fegan were moving toward a signed agreement on Wednesday night, sources said.
Reebok’s bid for Wall beat overtures by Nike and Under Armour, sources said.
It didn’t hurt Wall’s marketability that the big market Washington Wizards won the draft lottery and have the No. 1 overall pick. He’s expected to be the centerpiece of the franchise’s rebuilding process.