Probably a dumb question about Penny's

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Have not been on here for a long time but I have a quick question.  What is Nike's current business relationship with Penny Hardaway?  Nike must be making money hand over fist with all the releases bearing Penny's logo. More so than older athletes such as Bo Jackson and Deion so is there any new contract with Penny?  Is Nike obligated to pay him some sort of royalties on these retros etc?  I ask because unlike other retros with athletes they've had it seems like Nike has kind of pulled his brand completely from the grave so to speak.
 
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Not a stupid question at all, IMO.

This is conjecture & speculation but I would think that Nike might (emphasize might) cut some kind of check for these athletes; after all a big chunk of the buyers are fans of the athlete, the shoe being just an accessory. It could probably go the other way as well, with the athlete's association being a side note.

(In that respect I've bought Foamposites based on how the shoe looked & felt; I could care less which NBA athlete endorsed them, I jsut thought they were cool)

If Nike is straight cold business though they would have had them sign a release or waiver form & other paperwork upon the expiration of the shoe deal stating that Nike is free to use his/her likeness/association, etc. in (insert # of years here) to continue to promote their products, with little to no monetary compensation in return. *IF* the Penny logo is owned by Penny himself, then I'd say Nike does owe him some money from the money tree that is reissuing retro models, but if Penny signed that away & that was a Nike creation (1 cent logo) then that is Nike's free & clear. Some help from the legal field NTers would come in handy right about here...

He could also be "paid" in terms of free shoes, clothing for his friends & family, input into cw options... Just some ideas for thought.
 

johnmckoolaid

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all i know is nike owns the design of the shoe itself, so even if they dropped penny, they could just replace the logo and release the sneaker, like they did to Garnett
 

nikedealer

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You are both right. If Nike wanted to still drop the shoe... without paying Penny they could... as they have in the past with other athletes...

However they do have yearly or multi year contracts with retired players dependent on what they have coming out. Its not in the Millions because it would kill Nike's bottom line.. hence why Dieon didnt have his name on some stuff because they couldn't negotiate a deal... I think the same stood true with C. Webb.

I think Penny can safely know his pockets will have some sort of lining for years to come when it comes to shoes released with his image or name.

Tim Duncan wasnt paid to sell the Air Maxes.... and that says alot... (not really)
 
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edwardkingjr wrote:[hr][/hr]Have not been on here for a long time but I have a quick question.  What is Nike's current business relationship with Penny Hardaway?  Nike must be making money hand over fist with all the releases bearing Penny's logo. More so than older athletes such as Bo Jackson and Deion so is there any new contract with Penny?  Is Nike obligated to pay him some sort of royalties on these retros etc?  I ask because unlike other retros with athletes they've had it seems like Nike has kind of pulled his brand completely from the grave so to speak.


Come on man. Penny shoe line was never in the grave. More popular than ever right now, yes. But grave.... not at all.

Plus could be penny's designs are wayyyyy better than all this new trash Nike is releasing, so could be another reason new generations are gravitating towards them. or hype as well.

 
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Appreciate yalls insight. I gather from what you all are saying is its mostly if Nike wants to or not, which makes sense. Mephisboi I guess "grave" was the wrong wording, didn't mean it that way. I more or less meant  that Penny's shoes have received way more attention from the company than most former athletes lines. 
 
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Originally Posted by memphisboi55

edwardkingjr wrote:[hr][/hr]Have not been on here for a long time but I have a quick question.  What is Nike's current business relationship with Penny Hardaway?  Nike must be making money hand over fist with all the releases bearing Penny's logo. More so than older athletes such as Bo Jackson and Deion so is there any new contract with Penny?  Is Nike obligated to pay him some sort of royalties on these retros etc?  I ask because unlike other retros with athletes they've had it seems like Nike has kind of pulled his brand completely from the grave so to speak.


Come on man. Penny shoe line was never in the grave. More popular than ever right now, yes. But grave.... not at all.

Plus could be penny's designs are wayyyyy better than all this new trash Nike is releasing.


QFT
Foams have ALWAYS been around, now they are just extra gassed up
 
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Originally Posted by edwardkingjr

Appreciate yalls insight. I gather from what you all are saying is its mostly if Nike wants to or not, which makes sense. Mephisboi I guess "grave" was the wrong wording, didn't mean it that way. I more or less meant  that Penny's shoes have received way more attention from the company than most former athletes lines. 

I wouldn't say that you're too far off with "the grave" wording.


Sure, Nike has retroed Penny's shoes in more and different colorways as well as the Foamposites. But the Penny IV came out in 1998. It wasn't until the 1/2 Cent came out in 2009 did they "re-continue" making new models for the Penny line.
 
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im pretty sure penny and barkley got similar deals since they both retired and yet they both are nike endorsed paid athletes...

even before da nike deal, nike got 100 mill from da suns in a sign and trade from orlando, so he cashed out ALONG time ago
 
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the penny line has been hot, i would think they would still pay him, he has some sort of a legacy so he is definitely marketable, and the shoes r in demand so in order to keep the brand integrity it would only make sense to still have the athlete that wore the shoes to still advertise them, i hope penny is getting paid from nike
 

kingjay718

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Nike is takin' care of Penny really well.  Penny's kicks have always had a following, but I'd never imagine his line becoming a sub-brand.

We all know Nike is takin' care of Chuck.  He stay puttin' on for the swoosh. 
 
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