Nike Planning Huge Jeremy Lin Endorsement Deal
The Nike franchise has been discussing opportunities to sign Knicks' star Jeremy Lin to a huge endorsement deal.
Nike is trying to cash in on "Linsanity" after introducing Linsanity t-shirts at Foot Locker last week. President of the Nike brand, Charlie Denson, said the shirts were a great success, according to Fox News. He also said that it was just the first move to brand Lin's success.
"We are in development of a longer range plan where we can leverage Jeremy and all the excitement that he's created in the market place," Denson said.
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Denson has yet to discuss Nike's plans with Lin, but plans to speak with during the NBA All-Star weekend in Orlando, Fla., this weekend.
"There are discussions on what we can do with him going forward, whether it's through footwear or appearances or other opportunities to use his new found celebrity," Denson said. "On the footwear side, we are trying to do things on a quick term basis and others on a long-term basis."
Denson didn't reveal Nike's contract terms with Lin, but said they are developing a long-term relationship with Lin. He also said that Nike is excited about exploring a relationship with Lin and it is a real benefit to be associated with him.
Nike signed Lin when he went professional in 2010, but due to his newfound success and stardom, they're looking to expand. Last summer, Nike also sponsored a tour for Lin to travel to Taiwan, where his parents are from.
One of Nike's biggest competitors, Adidas, is also planning to make an endorsement deal with Jeremy Lin. Adidas holds the NBA apparel license and plans to produce Lin-themed jerseys for a network of over 6,000 stores in China, according to the Wall Street Journal.
Adidas CEO, Herbert Hainer, says he is looking for fresh talent like Lin, who has another year remaining on his Nike contract.
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