Nike swooshes in with $300M to keep Kevin Durant

Under Armour had its man. It was about to sign basketball superstar Kevin Durant to a 10-year, $285-million endorsement deal.

But that deal has been rejected by Nike, which at the last minute swooshed in with a reported $300 million deal, keeping Durant with its brand, according to CNNMoney.

Under Armour had offered Durant a company record $265 million to $285 million sponsorship deal over 10 years. Nike had a right to match the offer.

Read more from CNNMoney.