Caitlin Clark signed a massive deal with Nike not long after being drafted No. 1 overall by the Indiana Fever. However, sports marketing executive Sonny Vaccaro believes that she (and her representation) left a lot on the table.
He thinks that the greatest scorer in college basketball history should have demanded Michael Jordan treatment!
Vaccaro, now 84, is best known for his time with Nike, Inc., where he signed MJ to his first sneaker deal. The story of his all-in gamble that paid off in a massive way is depicted in the movie ‘AIR.’
Vaccaro later spent time at Adidas and Reebok, and founded the ABCD basketball camp and the first national high school all-star game. Kobe Bryant, Dwight Howard, LeBron James, Shaquille O’Neal, Kevin Garnett, Vince Carter, Tracy McGrady and Patrick Ewing were among those who participated.
All of this goes to say that Vaccaro is a legend in the industry, especially in the hoops world. Very few people have a pulse on the market like he. There aren’t many people with his job who have such significant name recognition.
Thus, if Vaccaro believes that Clark missed out on a better deal, she probably did.
Caitlin Clark’s deal with Nike fell short of Sonny Vaccaro’s expectations.
After it was initially reported that 22-year-old superstar signed an agreement with Nike worth approximately $20 million, it was later revealed that her contract is worth closer to $28 million over eight years. Clark will get her own signature shoe as part of the partnership.
While that might seem like a pretty legit deal, Vaccaro thinks that she and the people who represent her did not push hard enough for what Clark deserved. He told TMZ Sports that they failed to tap her full potential in terms of worth.
She should have gotten a piece of everything, just like Michael Jordan. I’m saying to you they messed up. They should have held on to the last drop.
— Sonny Vaccaro, via TMZ
The aforementioned Michael Jordan deal is the central focus of ‘AIR.’ It changed how athletes approached endorsement deals for years to come.
In addition to a groundbreaking five-year, $2.5 million contract, Jordan also received 25% royalties on all shoes sold with his likeness forever. Vaccaro famously helped to facilitate the agreement.
Clark’s deal does not include the royalty push. She will get paid a set amount of money every year through the entirety of the contract. She will not get paid for ever pair of shoes sold like Jordan.
Sonny Vaccaro believes that Caitlin Clark deserved a Michael Jordan-esque equity deal and could have received G.O.A.T. treatment. Too late!