Kobe Bryant's Deal With Nike Expired, No Renewal In Sight

Nike's deal with the late basketball legend Kobe Bryant expired on the 13th of April, and the athletic line and Kobe's estate are yet to reach an agreement for the renewal of the contract. This could be the end of the long, rich, relationship the Lakers' star had with Nike, since his signing in 2003, unless his estate and the brand can reach a new arrangement.

Nike released a statement on the contract expiry which reads,

"Kobe Bryant was an important part of Nike’s deep connection to consumers. He pushed us and made everyone around him better. Though our contractual relationship has ended, he remains a deeply loved member of the Nike family."

Reports were out a while ago, about Vanessa's frustration with Nike for not releasing more Kobe shoes. The brand released the shoes in limited supply, which made it difficult for fans to purchase, as well making it easier for resellers to inflate prices. Vanessa was also reportedly unhappy with the fact that the shoes didn't come in smaller sizes suitable for kids. 

These, and the lack of a suitable extension offer, are parts of the reasons why Vanessa has decided to cut ties with the company.On Monday evening, she posted a message on her Instagram which reads, 

"My hope will always be to allow Kobe's fans to get and wear his products. I will continue to fight for that. Kobe's products sell out in seconds. That says everything." 

Kobe Bryant passed away in a helicopter crash on the 28th of February 2020, along with his 13-year-old daughter Gianna, and seven others. He was just 41 years old.

Although Kobe was signed to Nike in 2003, his work with them began before then, since in 1996, just as his professional career took off. He was signed for about $40 million, and the deal remains the primary source of revenue for the star's estate. The company, Nike, reportedly makes about $250 million annually from Kobe branded merch.

Kobe, nicknamed the Black Mamba, had one of the most successful careers in NBA history. In his 20 years of professional play, he was an 18 time NBA All-Star, a five-time NBA Champion as well as a two-time NBA Finals MVP. 

Apart from his contract with Nike, he had endorsements with Sprite, Mercedes-Benz, Alibaba, MacDonald's, Lenovo, and a lot of others. During his time with the Lakers, Kobe earned over $300 million in salary alone, including over $350 from endorsements. At the time of his death, his estate was worth about $600 million. His wife, Vanessa, and their 3 daughters inherited the estate.