ESPN's Darren Rovell is reporting that Under Armour officially offered Kevin Durant a sneaker deal worth between $265 million and $285 million over 10 years.
Speculation that Durant was in talks with Under Armour began earlier this month when his deal with Nike expired.
Under Armour's offer to the NBA MVP, which includes stock in the company and other incentives, like a new community center under his mother's name, was communicated to Nike by Roc Nation Sports, Jay Z's sports agency that began representing the OKC Thunder superstar last summer.
Nike has the right to match the deal based on terms from its contract with Durant. If the Swoosh is able to do so, Durant wouldn't legally be able to sign with Under Armour.
If the Maryland-based company is able to sign KD, it would be the brand's largest sponsorship deal. In fact, based on the reported offer to Durant, the annual amount of $26.5 million to $28.5 million already represents 10 percent of its annual marketing budget.
It's not yet known if Nike has a deadline to match Under Armour's deal. Considering its seven years with Durant, which saw KD's signature line grow to $175 million at retail last year, you have to believe the Swoosh is thinking long and hard about this possible game-changing deal.