Under Armour close to Durant deal

|About: Under Armour, Inc. (UAA)|By:, SA News Editor

Under Armour (UA +0.4%) has offered Oklahoma City All-Star Kevin Durant a 10-year basketball shoe contract worth between $265M and $285M, according to an EPSN report from earlier this week.

Though Nike (NKE +0.4%) has had Durant under contract since 2007, the company is expected to let Durant go with Under Armour seen as paying a hefty premium just to gain some instant basketball shoe credibility.

The Oregon sports juggernaut has another pretty solid reason to pass on matching Under Armour's offer with its Air Jordan brand still remarkably strong at 30.