I Know Everything - Chapter 560
Chapter 560: Huge Endorsement Contract!
Kupchak contract renewal plan didn’t pan out but Watnard contract was signed.
The next morning, Adidas announced to the media all around the world that they signed Chen Huan to a 5 years endorsement contract worth 100 million dollars.
Chen Huan would endorse all products from Adidas.
They released a picture of Chen Huan and the president of North America branch Watnard holding a contract with a smile.
In the later details, they also announced that if Chen Huan won the Finals MVP this year, the contract would be automatically extended for another 5 years and 100 million dollars.
They didn’t publish the details about the lifetime contract with the proving of Fermat’s Theorem because they thought it would be too soon.
The whole world went into a frenzy as soon the news came out.
Not because it was too high but because it was too low.
Because it was too low!
Before Lebron James got into the NBA, he signed a seven year 90 million sneaker deal with Nike.
At that time, Lebron James was hailed as the next great in the NBA but wasn’t yet tested in the NBA.
Even so, Nike was willing to give him a contract worth 12.5 a year and that was only for sneakers!
Lebron could have still signed with other brands for other equipment and clothes!
What about Chen Huan?
Chen Huan gave two convincing NBA playoff performances and dominated.
He had convinced numerous experts with defense, ball handling, passing, dunking etc…
Everyone knew how great Chen Huan’s future was.
As long as Chen Huan continued to play like this and got the FMVP and the trophy, Nike would give the green light to sign him for 5 years 200 million!
And it would be just for the sneakers!
But what happened with Adidas?
Not only they only used 200 million USD to sign Chen Huan for the next ten years, Chen Huan would endorse all of their products such as clothes or even socks and hats.
This was obviously a loss.
Not to mention that there was a huge market of 1.5 billion Chinese people behind Chen Huan, it was a juicy piece of meat!
They really wondered why Chen Huan was in such a worry and didn’t wait.
Only Kobe and Iverson knew that Adidas was the one who really paid off in this contract.
Chen Huan would never play in the NBA again so this was his last year of his sports career.
Adidas was willing to pay a contract worth 200 million in ten years for Chen Huan who would play only for two months, it was obviously a big offer.
It could be seen that Adidas was also aware of the big Chinese market behind Chen Huan as they knew that Chen Huan was very popular in China and had tens of millions of fans with the songs he had written.
Having that said, it was no wonder Adidas signed Chen Huan to endorse all of their products, wasn’t that like signing an idol?
Kobe and Iverson could be relied on.
Watnard also kept his promise and didn’t leak that Chen Huan’s decision on not playing in the NBA anymore.
So the other major sports brand goods who were very optimistic about Chen Huan’s future felt regret.
In their opinion, Adidas betted big on Chen Huan only after two games by Chen Huan but as a whole, they wouldn’t lose money out on this contract.
It was impossible for Chen Huan to have a short career with his beast-like physical ability.
No matter how he squandered it, Chen Huan would at least peak for 5 years and at least 10 years if he was a bit normal.
Big brands like Nike, Jordan, Reebok, Under Armor and Puma were all eyeing Chen Huan.
They were testing and thinking about how to sign Chen Huan.
Unexpectedly, they didn’t even take the first step before Adidas already was at the finish line.
In that regard, MJ, the first shareholder of Air Jordan, was the first to give his opinion.
He expressed it during an interview.
“A lot of people have been asking me if I ever thought highly of Chen Huan?”
“My answer is yes! He first came to my training camp and I was willing to offer him a contract from the first glance!”
“But he told me that he loved studying and didn’t want to play basketball. I was shocked back then but now I know the kid was lying to me.”
“You guys always say that I have bad judgment but I was the first to discover him. However, he went back to study in China and didn’t play basketball, that is why we missed out on him.”
“I won’t comment on how he’s playing with the Lakers now but I want to say he made the wrong decision for his endorsement contract! Air Jordan is his best choice! Only us can utilize his commercial value to the max!”
MJ wasn’t bragging.
Although Air Jordan was a subsidiary company of Nike, its shoe sales accounted for more than 60% of the sales in North America, which was more than Nike and Adidas combined. How terrifying was that?
The best player should work with the best brand, there was nothing wrong with that statement.
However, if MJ knew that Chen Huan didn’t plan to play basketball again, he would probably just turn around and leave without saying anything to Chen Huan.
The god of basketball was just like that in reality.
Petty, stingy, arrogant … all of those words could be used to describe MJ.
Luckily, Air Jordan wasn’t owned by him otherwise he wouldn’t be able to develop it so nicely.
Why did he ask so much but give so little?
It was like the Hornets team, why did they perform so badly and couldn’t retain any good player? MJ obviously had reasons for it.
The Americans felt sorry for Chen Huan but it was different in China.
In China, it could be said that Nike and Adidas were on equal footing.
And Adidas was giving 100 million USD in five years, which was 700 million Yuan, which also meant 140 million yuan per year!
How many songs and great albums did he have to make to earn that much money?
All the artists in China, including the most bankable in the film industry such as Chen Huan, couldn’t reach this level, right?
The netizens were all filled with emotions when they learned he would make so much money from the Germans.
“Tsk, look at that! Teacher Lu is international now and so successful! As a man who makes 3000 a month, how can I compare?”
“Let alone you, even as middle-level staff with an annual salary of 5 million, I also feel jealous! I can’t make that much even if I worked 100 years!”
“Doesn’t it mean that our Sister Xiaofeng is awesome? He’s the world’s youngest person with a super contract, it’s like gaining honor for China!”
“Right, right! I’m an American and you don’t know how much the Americans love Sister Xiaofeng! They really love him!”
“Sister Xiaofeng has money for charity again! I look forward to him coming back to the country and his good deeds!”
“Hey, the poster above, we were having a blast but why did you come do some moral kidnapping? What? The other party didn’t say anything yet but you already decided how it should be used for Sister Xiaofeng? Who are you? You think you’re big?”
“Exactly! What is this? He can use the money he earned as he wishes! I don’t like stingy youngsters but I have no dissatisfaction toward Sister Xiaofeng who already donated 100 million without blinking!”
“Some people just don’t want to see other people doing better than them so they are doing some moral kidnapping to force them to become a saint and then crazily scold and slander them if they don’t reach their standard! Sorry! But this is the internet age and we can easily get information via it, we won’t be deceived!”
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