Top 10 Most Expensive Nike Shoes Endorsements In 2024
Even recently, one cannot think of Nike without their Air Jordan. It is still considered one of the most buoyant deals Nike has ever made.
The profit went both ways. On one side, the endorsement money helped Jordan in his sports, while on the other hand, the deal helped Nike to transform from being an underdog to a bestseller.
Nike celebrity endorsers have always been a huge part of its marketing techniques, bringing more value to the company’s profit. The celebrity endorsements for Nike have become a boon to the company, earning it precious money and building up a brand adored by many. Even recently, many people have been willing to pay for the rare Air Jordan to wear them regularly.
In this article, I have curated the top 10 Nike-endorsed celebrities and the most expensive Nike endorsements so that you can get a close look at how much Nike offers for celebrity endorsements.
Why Is Celebrity Endorsement Important For Branding?
Regarding branding, celebrity endorsement has always been a go-to strategy for better marketing. Companies focus on involving athletes, musicians, and other influencers to promote their products to the marketplace. In recent years, this marketing strategy has become famous due to the popularity of influencer culture.
Celebrity endorsement can bring a lot of positive benefits, which include:
- Increased level of brand visibility as well as brand awareness.
- Enhancing the credibility of the brand,
- Increase the number of sales and market the product.
- Establish brand credibility and earn trust from the customer base.
If you dig deep, you will understand how celebrity endorsement attracts more customers. Moreover, celebrity endorsement also influences customers’ purchase decisions, leading to more sales for the brand itself. Thus, companies like Nike or Heinz opt for celebrity endorsement as one of their prime strategies.
Top 10 Nike Celebrity Endorsers Helping Inexpensive Nike Shoes Endorsement
According to Forbes, Nike spends over a billion dollars each and every year, especially for endorsement purposes. Nike offered millions to Sports celebrities like Tiger Woods and LeBron James as a part of celebrity endorsement for Nike.
1. Micheal Jordan
Among all the Nike celebrity endorsers, the first name that might come to your mind is Micheal Jordan and the great range of Air Jordan. Even though he was well known, Nike and their endorsements made him popular.
In 1964, rookie NBA player Micheal Jordan signed a five-year US $2.5 million deal with Nike, bringing success to both parties. Since then, Jordan has earned an estimated value of $1.3 billion from the endorsement deal itself. His Air Jordan was famous among sneakerheads and fans, helping the company gain a large profit.
As part of this endorsement, Nike introduced Air Jordan in 1964, and to date, it is the most famous in the marketplace. Despite being absent from court since 2003, Jordan takes home monetary benefits from the endorsement deal and earns what Nike earns from the Jordan brand imprinted sneakers.
2. LeBron James
LeBron James, also known as King James, is another important celebrity among Nike-endorsed celebrities. In 2003, when James became a pro, Nike endorsed him and made a lifetime deal with the player in 2015. This is another profitable deal Nike made with an athlete. The company currently pays him a value of $15 million a year.
This LA Lakers celebrity is now one of the highest-paid athletes. As Forbes has estimated, the current net worth of the player is around $850 million, making him closer to becoming a billionaire.
3. Tiger Woods
Even though Nike’s endorsement deal with Tiger Woods ended this year, the legendary golfer has been one of the company’s highest-paid celebrity endorsements. The endorsement deal was revolutionary for the company, as it did not previously have a golf division.
The first-ever contract between Tiger Woods was made in 1996 for $8 million for five years. His latest contract was around $100 million for five years, more than double what he was offered in the 1990s.
According to Forbes, Woods earned $500 million from the Nike endorsement. Along with Magic Johnson, Michael Jordan, and LeBron James, Tiger Woods is considered a cash-rich athlete earning a fortune. His recent deal helped him earn $20 million for five years.
4. Rory McIlroy
Nike signed an endorsement deal with another golf player, Rory McIlroy, back in 2013 worth $25 million. This was another famous Nike celebrity endorsement. His golf collection offers a head-to-toe set, including pants, shorts, and gear you may need before entering the field.
Rory’s talent and rise at a young age attracted Nike for endorsement. A fresh face and top-tier talent benefitted Nike immensely. As per CBS Sports, in 2017, Rory extended his contract with Nike for ten more years. So, this young talent and the second-best golfer in the world will be seen in a head-to-toe swoosh set even in the future.
5. Rafael Nadal
Rafael Nadal, the 20-time Grand Slam winner, has worn Nike apparel and shoes for quite a long time. Nike is the sponsor for both clothing and shoes. This Spanish player signed a ten-year contract with Nike in 2008 and then extended the contract for five more years in 2018.
Although there is no official statement about the contracts, the player earns over $10 million. This value also comprises the royalties from the business he takes home.
6. Maria Sharapova
Russian celebrity Maria Sharapova, a former Wimbledon winner, is also featured in the list of celebrity endorsements for Nike. What shocked me was that she signed an endorsement contract with Nike at 11. Nike must have succeeded in keeping this talent on their side.
The endorsement deal with Maria Sharapova was signed in 2010 and valued at $70 million. This also included the share Maria received from the clothing range. According to Finance Online, Maria also cashes in on other endorsements, such as Canon, Sony, and Tiffany.
7. Serena Williams
This 42-year-old tennis player is another famous face among Nike celebrity endorsers. In 2003, Serena signed a deal worth $40 million with Nike. She could chase more money from her tournaments and incentives, but her motive differed slightly.
Her endorsement of Nike was mostly to bring more colored people into the field of fashion design. Nike is already known for their bold fashion both on and off the field. The endorsement brought more success in such a throat and influenced people.
This legendary tennis player is often seen in dazzling, shiny Nike on-air shoes, and Nike does not show any sign of diminishing its support for her. Moreover, the brand has made a long-term commitment to Serena, making it profitable for both.
8. Derek Jeter
Derek Jeter is one of the highest scorers in major league history. His current worth is around $200 million. Even after Nike bid farewell to Jeter and his professional career, Nike continued with him.
The Forty-year-old, once a famous baseball player, wore Air Jordan for a long time after their contract extension. Along with Nike, this baseball player also endorses other brands like Skippy, Gatorade, and many more.
9. Kobe Bryant
The late legendary shooting guard Kobe Bryant was one of the finest and greatest players for the Lakers. Along with his endorsements with Coca-Cola and Nutella, which earned him almost $31 million yearly, the Nike endorsement added more cash to his earnings.
Bryant is also among the important Nike celebrity endorsers from the basketball court. The current endorsement deal still secures $8 million per year. After his retirement in 2015, Kobe was offered the opportunity to redesign his open Nike shoe range. In return, he earned $15 million per year.
10. Kevin Durant
This 13-time all-star NBA champion falls under the most famous and profitable endorsement that Nike ever made. The relationship with Nike began in 2007, and currently, he is the third NBA player, after Michael Jordan and LeBron James, to tie up with Nike in a lifetime contract.
Kevin Durant, who signed such a profitable endorsement with Nike, is currently playing his 15th NBA season. To date, 15 shoes are under his design range, and a 16th is coming. Kevin chose an $8.50 million deal with Swoosh for seven years and turned down Adidas’s $70 million, which shows his preference for Nike over other brands.
In Summary
Celebrity endorsement strategies should be addressed when establishing brands and earning customer loyalty. Choosing renowned athletes has been in favor of Nike. It not only helped the brand to make a bold presence but also promoted the products most effectively.
Nike celebrity endorsers helped me realize that brands must choose celebrities based on attractiveness, credibility, and compatibility. Nike celebrity endorsements not only helped the athletes to excel in their field. It also helped the brand earn or exceed the revenue while establishing its value.
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