O.J. Mayo Signs With Nike
O.J. Mayo’s marketing agent Maverick Carter, CEO of LRMR Marketing, confirmed this morning that Mayo has signed a four-year deal with Nike.
Mayo is the first of the high-profile draft picks, who will be drafted tonight, to have signed a deal. Carter would not comment on the financial terms of the deal.
Carter said that Mayo will be included in Nike’s advertising campaigns and he’ll wear a customized shoe that could be released in the market he plays in or at a Nike specialty store like the House of Hoops in Manhattan.
“It’s a great deal,” said Carter, who also worked with Mayo’s new CAA agent Leon Rose on the shoe contract. “This is the best company for him. There was discussions with other brands about giving him more money if he was drafted into a bigger market like New York or Los Angeles, but Nike showed they really wanted him because they didn’t care what market he was in.”
Years ago, Mayo was dubbed “The Next LeBron James.” He certainly isn’t getting LeBron shoe money, but his marketing is done by LRMR, which also represents James.
Mayo is most likely to be drafted as the third by the Minnesota Timberwolves. If he’s picked third, he will make a guaranteed $12.5 million for his first three years in the league.
On a CNBC.com poll, "The Mayo Clinic"is the leading candidate for his new nickname, which would be appropriate if he played in Minnesota, where the medical facility is located.
Nike shares are down significantly so far today mostly due to their earnings report after the bell yesterday. Futures were really strong outside the United States, but flat in this country.
Questions? Comments? SportsBiz@cnbc.com