Andrew Wiggins signs endorsement deal with adidas

According to ESPN, Andrew Wiggins has signed an endorsement deal with adidas. Wiggins, who wore adidas during his one season at Kansas, reportedly signed a deal worth $12-13 million over five years.

Last October, Bleacher Report said adidas was the frontrunner to sign Wiggins and that he would sign a $140-$180 million contract over 10 years. While Wiggins isn’t getting hundreds of millions of dollars, he got a sizable amount of money for a rookie.

Early Wednesday, Wiggins posted this image on Instagram and wrote: “Been waiting for this day. Happy to be joining the @adidashoops fam! #teamadidas”

Adidas posted this welcome message on their social media accounts:

More info from ESPN:

Wiggins wore adidas during his only year of college ball at the University of Kansas.

It’s the first No. 1 overall draft pick adidas has signed since signing Chicago Bulls guard Derrick Rose in 2008.

Adidas was pressured to try to secure its future even further with Wiggins in part because Rose, the company’s highest-paid NBA spokesman, has missed nearly two seasons with injury.

The company recently re-signed Portland Trail Blazers guard Damian Lillard to an extension that could last for the next 10 seasons and added Dante Exum, who was taken fifth overall by theUtah Jazz in this year’s draft.

Adidas also shifted Washington Wizards guard John Wall from its Reebok brand to its main adidas brand last year and will be debuting a signature shoe this upcoming season.

The other high-profile name in the draft coveted by all the shoe companies was Duke’s Jabari Parker, who was taken by the Milwaukee Bucks with the second pick. Parker signed with Nike’s Jordan brand.

Adidas has a long way to go to catch up to Nike, which owns an astounding 95 percent of the basketball shoe market share (Jordan: 58 percent; Nike: 37 percent) in the United States, according to market retail tracking firm SportsOneSource. Adidas has a 3 percent share.