Former Iowa star guard Caitlin Clark is signing an eight-year, $28 million endorsement deal with Nike and is set to receive her own signature shoe, according to an article posted Tuesday by ESPN.

The new deal would be the richest sponsorship contract for a women’s basketball player.

Under Armour and Adidas also participated in contract discussions with Clark’s team in February, according to The Athletic. Puma also showed some interest but walked away when told the bidding would start at $3 million a year, per the Wall Street Journal.

Clark received offers of $16 million over four years from Under Armour and $6 million over four years from Adidas, with both including a signature shoe, according to the WSJ.

The ESPN article said Clark’s agents were working on the new Nike contract even before she announced she would turn pro.

Clark was drafted No. 1 overall by the Indiana Fever on April 15. She joins an exclusive club of WNBA players to have their own signature shoe: Breanna Stewart, Elena Delle Donne, Sabrina Ionescu, Sheryl Swoopes, Rebecca Lobo, Lisa Leslie, Dawn Staley, Cynthia Cooper, Nikki McCray, Chamique Holdsclaw, Diana Taurasi, and Candace Parker. 

Breaking: Indiana Fever’s Caitlin Clark – the No. 1 pick in the WNBA draft – is nearing a lucrative, eight-figure endorsement deal with Nike, per industry sources. Clark is set to receive her own signature Nike shoe.

Story with @MikeVorkunov, @benpickman: https://t.co/pjBBTmHc78

— Shams Charania (@ShamsCharania) April 18, 2024

The 6-foot guard first signed with Nike in 2022. When appearing on the popular show “Saturday Night Live” ahead of the WNBA Draft, Clark supposedly hinted at a new Nike deal by wearing a black jacket with a giant “N” on it. This is the first endorsement deal she’s agreed to since going pro. 

For everyone asking about the “N” on Caitlin’s jacket from SNL.. that would be Nike lol pic.twitter.com/AWoE1wWu9q

— Bri Lewerke (@brilewerke) April 14, 2024

Clark had a long list of NIL deals that includes Gatorade, State Farm, Buick, Panini America, Xfinity, Gainbridge, Topps, Hy-Vee, H&R BlockBose, Shoot-A-Way, and Goldman Sachs. According to On3, all of her NIL deals were estimated to be around $910,000 with an estimated net worth of $3.1 million. Clark’s NIL deals ended after the conclusion of the recently finished college basketball season, which “allowed her to hit the market at the peak of her popularity.” It is expected Clark will remain with all of these companies, though.

During the NCAA Tournament, Ice Cube – an entrepreneur and co-founder of the BIG3 basketball league – confirmed a report that he offered Clark a $5 million deal to participate in the summer league during the WNBA’s offseason. It hasn’t been said whether she’s going to participate. 

The No. 1 pick’s WNBA rookie contract has her earning $76,535 in her first year and $338,056 total over four years. Now, she has added a lucrative contract with a popular sports brand.