Derrick Rose May Walk Away From $80M Shoe Deal

Derrick Rose May Walk Away From $80M Shoe Deal

(FreshAsFrankie) Recently, Derrick Rose took an indefinite leave-of-absence from the Cleveland Cavaliers. According to reports, the point guard was hit with an ankle injury that he caught on November 7, which put him on the sidelines since then. Because of that, Rose is reportedly considering his future in the NBA, as well as an early retirement.

Now, the 29-year-old who is on a one-year contract with the Cavs may walk away from $80 million on his Adidas deal he signed in 2012.

ESPN reported that Adidas is “protected” from Rose’s current situation. The contract between Rose and Adidas states that the company is responsible for making and marketing a new Derrick Rose signature shoe every year he plays. However, if Rose decides to retire as reports have stated, then the remaining seven years of the deal are not required to pay out.

The extension on the deal Rose and Adidas made was for $185 million over 13 years.

Source: espn.com

DeRon Beasley is the founder and Editor-in-Chief of FreshAsFrankie.com. After starting out as a musician-producer he went on to study the music business and work in Urban Promotions, followed by artist management. Mr. Beasley entrepreneurial spirit has led him to launch numerous businesses in music and fashion marketing. He’s a huge fan of the ’80s and ’90s Hip Hop and R&B, and he’s a firm believer that Hip Hop Music will never die.

Leave a Reply