The deal, which will pay him $3-6 million annually based on incentives, makes Porzingis the top paid European sneaker athlete in NBA history.
Porzingis first signed with Nike in 2012 as a 17-year-old basketball player in Spain, a deal that paid him $25,000 per year. Nike has until mid-October to match adidas’ offer, but The Vertical has reported it is not expected to do so.
“All I can say is both Nike and adidas are first-class companies,” Porzingis told The Vertical on Wednesday. “I would be lucky to align myself with either one. The amount of attention I received was flattering, but right now I am letting my agents handle the business side of things.”
New York selected Porzingis fourth overall in the 2015 NBA Draft. The 7-foot-3 big man from Latvia averaged 14.3 points, 7.3 rebounds and 1.9 blocks per game in his first season, placing second behind Minnesota’s Karl-Anthony Towns in Rookie of the Year Award voting.
The Knicks re-tooled this summer in an effort to ‘win now’, trading for Rose and signing Noah, Courtney Lee and Brandon Jennings to free agent deals. New York is poised to end its three-season playoff drought that has included a mere 49 wins over the past two seasons.
Porzingis scored 22 points in the Knicks’ 130-103 preseason-opening loss to the Houston Rockets on Tuesday. He shot 5-of-6 from three, including four triples in the third quarter.