After Luring Kevin Durant and Drake’s Interest, $500 Million Worth Company’s Basketball Venture Ropes In Shoe Industry Giant

The basketball industry has gone through a major shift in the past few years to meet the demands of its viewers. One such venture had attracted the interest of the NBA superstar Kevin Durant and music artist Drake. The $500 million company has now dropped in a shoe industry giant to gain more momentum.

The partnership could turn into a path-breaking one for the future of the game. As the support from the big names remained intact, the recent collaboration caught the attention of everyone.

What exactly happened?

Overtime caused a disruption in the world of basketball when they launched Overtime Elite two years back. They received applause for their focus on the international players aged between 16-20 and their future. Adidas has recently decided to join hands with the $500 million organization’s venture.

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The $36.25 billion company decided to enter a multi-year partnership with Overtime, showcasing its faith in the project. They became the program’s exclusive apparel and footwear sponsor following the impressive track record. The league has already helped 15 players become professionals since 2021, making it a massive success.

It has produced two top 5 NBA draft picks in just two years, with the backing of celebrities. Names such as Kevin Durant and Drake had invested in the company long before the introduction of the Overtime Elite. Thus, the recent inclusion of Adidas on the list came across as a groundbreaking collaboration.

As the company seemed to be on its way up, the support from its investors can not be neglected. The index is long but features a few interesting names.

Who else, apart from Kevin Durant, invested in the project?

Since the formation of the parent company, Overtime, the cofounders have raised various rounds of capital. The initial investor list featured the former NBA commissioner, David Stern. Soon after that, the superstars of the league followed a similar path.

In 2018, Durant put his money into the venture and the world took notice of it. A year later, Carmelo Anthony did the same, and the concept of the Elite program received a major boost. After its recent success, it now has the attention of several, as it is showing huge upside potential.

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Thus, Adidas was quick to react to the change, as they wasted no time in partnering with a booming organization. The smart move from both parties paid off as the basketball lovers hoped for a wonderful future.