The most prestigious and wealthy shoe company in the business has added another large asset to its artillery.

According to Shams Charania of The Vertical, shoe giant Nike is closing in on a multiyear deal for projected number one overall pick, Ben Simmons. Charania's sources stated that Simmons chose Nike over adidas after they raised their offer.

The contract will likely be worth a few million per season as one of the richest rookie deals ever, albeit not in the ballpark of Kevin Durant or LeBron James. If Simmons lives up to the expectations, this will be a huge win for the company.

Ben Simmons

Nike is still the perennial power in the basketball shoe business, but after losing two-time MVP Stephen Curry to Under Armour, there have been some doubts about their future dominance.

Despite not making the NCAA tournament with LSU, Simmons impressed with 19.2 points, 11.8 rebounds, 4.8 assists, and two steals per game. It's believed that the Philadelphia 76ers are leaning towards drafting him first overall; if they pass, the Los Angeles Lakers will surely jump at the chance to grab Simmons at number two.

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