1 overall pick in the WNBA draft, is set to sign a $28 million contract with Nike. The impressive eight-year agreement, which also includes the creation of a signature shoe, marks a significant step forward for women's basketball and further solidifies Clark's position as one of the sport's brightest stars.

News of the pending contract was reported by The Wall Street Journal and The Athletic, who cited unnamed sources familiar with the negotiations between Nike and Clark's agents. Both Excel Sports Management, Clark's representation, and Nike have yet to comment on the matter when approached by The Associated Press.

This new deal would represent the most lucrative sponsorship contract to date for a women's basketball player. Earlier discussions in February also involved sportswear giants Under Armour and Adidas, though negotiations ultimately fell through. Puma had shown some interest but withdrew from the bidding process when informed that the starting price would be $3 million per year, according to reports.

Under the terms of the agreement, Clark would continue her longstanding association with Nike, extending a partnership that began with her initial name, image, and likeness (NIL) deal signed in 2022. These contract talks come as a result of her previous agreement expiring at the end of the 2023-24 season.

Previously, Clark had received offers of $16 million over four years from Under Armour and $6 million over four years from Adidas, both of which included a signature shoe. Alongside these endorsement deals, she had already amassed approximately $3 million in NIL earnings during her time at Iowa, through partnerships with State Farm, Gatorade, and other brands.

The decision to pursue a new contract with Nike was initiated even before Caitlin Clark announced her intention to turn pro, forgoing her final year of eligibility at Iowa under the COVID-19 exemption offered to college players during the pandemic-affected 2020 season. After her dominant performances, averaging 31.6 points per game and leading the Hawkeyes to a second consecutive national championship appearance, Clark was selected as the number one overall draft pick by the Indiana Fever on April 15.

Heralded as the driving force behind the surge in women's basketball interest, Clark's remarkable displays on the court have captivated audiences worldwide. The NCAA title game between Iowa and South Carolina garnered a record-breaking 18.9 million viewers, while Clark's draft day saw a staggering 2.45 million viewers, setting another WNBA record.

What sets Clark apart extends beyond her on-court abilities. Her marketability is enhanced by her poised and polished performances in media settings. Recently, she even made a surprise appearance on "Saturday Night Live," receiving widespread acclaim and expanding her reach to an even larger audience.

With the reported eight-year contract, Nike demonstrates its commitment to investing in the future of women's basketball. At just 22 years old, Caitlin Clark has the potential to play for well over a decade in the WNBA. Furthermore, her exceptional talent puts her in contention for roster spots in the upcoming Olympic Games in Paris, as well as the Games in Los Angeles in 2028 and Brisbane, Australia in 2032.