old school adidas Adidas Wants Tracy Mcgrady For A Lifetime
Financial terms of the deal were not released, but it could generate tens of millions of dollars for McGrady. His original deal with adidas for six years and $12 million was scheduled to expire in December.
“This is an unprecedented deal for adidas,” said Erich Stamminger, adidas marketing executive, who announced the deal Wednesday. “Tracy is one of the most exciting and respected players in the NBA. We’re excited about his future impact on the sport, our brand, and our global basketball business.”
Sports Trend Info, a trade publication that tracks athletic gear, reported in March that the T Mac sold three times more than all other adidas shoes. In the first week of February, it was the hottest selling basketball shoe of any brand, including Nike and Reebok.
“The interest in him has suddenly quadrupled,” said Elissa Grabow of SFX, the management firm that handles McGrady’s business affairs, earlier this season. “You’ve got a rising young star just coming into his own and he’s unusually gracious. . . . The sponsors just love him.”
Adidas and PepsiCo are McGrady’s only big money national deals so far. PepsiCo, which signed McGrady last summer to a two year, $2 million contract, already has started negotiating an extension.
Compared with the biggest sports endorsers such as golfer Tiger Woods, McGrady still is in the minor leagues. Woods earned an estimated $54 million in endorsements in 2001, according to Burns Sports Celebrity Service.
McGrady, from Auburndale, just finished his second season with the Magic after spending the first three years of his career with the Toronto Raptors. He has blossomed with the Magic, becoming a two time All Star. He was named All NBA first team Tuesday, just the second Magic player besides Shaquille O’Neal ever to receive that honor.
“If you believe in the kid, why would you go through the trouble of having to renegotiate every six years?” asked adidas director of basketball Sonny Vaccaro. “It’s like free agency, when there are renegotiations, there’s always the chance your guy can leave. Now Tracy is tied to us forever.”