Nike re-signed New York Giants wide receiver Odell Beckham Jr. to a shoe deal that, according to multiple reports, will pay him twice as much as any previous Nike deal with a football player.
ESPN reported that, based on sources, Beckham signed a five-year deal that will pay him about $5 million per year.
Nicekicks.com reported the deal is worth more than $29 million, with incentives that could add $1 million each year. NJ.com reported the deal is the most lucrative for an NFL player in history.
NFL Network's Ian Rapoport reported that the five-year contract could be expanded to eight years.
Apparently, Beckham was able to create a bidding war with Adidas. Nike was given the option to match Adidas' offer, which is what the company did. Beckham's original deal with Nike was scheduled to expire earlier this month.
Nike did not comment on the deal.
"It was a long process," Beckham's agent, Zeke Sandhu, told ESPN. "This proved he's an icon."
He has 8.3 million Instagram followers, 2.3 million Twitter followers and 1.3 million Facebook followers.
The Nike shoes he wore for each game last season also drew attention. Each design seemed to spark interest on social media.
The deal was done by Sandhu and Beckham Jr.'s mother, Heather Van Norman, who is his business manager.
Nike's endorsement deal with Beckham was scheduled to expire earlier this month.