Austin Reaves becomes Rigorer part-owner: What we know about change in $1,000,000 contract with Chinese shoe brand
Following his breakout season last year, Austin Reaves signed a shoe deal with the company Rigorer. Just six months later, the LA Lakers guard has worked out a massive extension.
On Monday morning, reports surfaced that Austin Reaves and Rigorer have worked out a new contract. Under this new deal, the young guard is set to become a part-owner in the company along with being a sponsored athlete. Rigorer has already released Reave's first signature shoe, and two new color ways are expected to drop later this week.
As a part-owner now, Reaves has a much higher earning potential with Rigorer. Along with making over seven figures annually, the Lakers guard is also going to receive royalties on the sales of anything from his signature line.
Rigorer is trying to break into the NBA landscape, and they've chosen Reaves as their first signature athlete. The company launched back in 2014 and is founded by a former player in the Chinese Basketball Association.
Austin Reaves opens up on new deal with Rigorer
In the press release of this new deal, Austin Reaves opened up on his growing partnership with the company. He is pleased with how they've made his signature shoe, and thankful for Rigorer taking a chance on him at this point in his career.
“I’m proud to continue this partnership with Rigorer,” said Reaves. “The team is incredible, and we’ve developed a signature shoe that I’m proud to put my name on, representing both high performance and accessibility. The team has welcomed me like family and I will always appreciate them for believing in me at this early stage of my career.”
Over the past year, Reaves has become a household name in the NBA. He had a breakout year alongside LeBron James on the LA Lakers, and represented Team USA in the FIBA World Cup. Reaves went undrafted three years ago, and now has a contract worth over $50 million and a lucrative shoe deal.
Reaves had his struggles to start the season, but has turned things around since Darvin Ham moved him to the second unit. Through 21 games, he is averaging 13.7 points, 4.7 rebounds and 4.7 assists. The Lakers currently sit in seventh place in the Western Conference with a record of 12-9.
It's been an uphill battle for Reaves to get into the league, but he's managed to overcome the odds. With his new deal, he now has an opportunity to full maximize his growing brand.