After much speculation — and the acknowledgement of same from Pumas Jochen Zeitz — Nike announced Thursday that it had signed an endorsement contract with six-time Grand Slam champion Serena Williams. Word on the street is that the deal is for five years, and could reach $55 million with performance incentives. Serenas five-year, $13 million deal with Puma expired earlier this year.
Serenas older sister. Venus, has a similar deal in both term and magnitude with Reebok. Serena will reportedly be involved in product development and design as well as wearing Nike gear on the court.
“She is one of the greatest athletes, male or female, in the world,” said Nike spokesman Dave Mingey. “We cannot reveal specifics (about how involved Williams will become in the design), but we will be working with her as both a woman and an athlete.”
This deal will reportedly make Serena the richest woman in sports, but CNN.com reported that Venuss deal with Reebok was worth more than Serenas with Nike.
>>> We find it interesting that in the LBJ deal, Reebok and Nike said the other offered the most money. Now, with the Williams sisters, each says the other is paying the least…
