Kevin Durant's representation, Roc Nation Sports, informed Nike on Wednesday that he has a deal on the table with Under Armour worth between $265 million and $285 million over 10 years, sources told ESPN.com.
The deal includes Under Armour stock and other incentives such a community center built in his mother's name whose exact worth will not be known for some time.
Nike will now have the right to match, which is a condition of Durant's current contract with the brand. Durant can still choose Nike if they don't match, but can't legally choose Under Armour if they do.
Nike's last offer, sources said, would have given Durant a base and a minimum royalty guarantee that would equal no less than $20 million a year.