Chapter 90: 5-Year $100M Deal, Shockwaves in China

At the scheduled time, Tang Lei arrived at the upscale restaurant where he was set to meet his agent, Rich Paul, and Anta's General Manager, Xu Yang. As soon as he sat down, he noticed they had already ordered and prepared everything. After exchanging greetings, Tang Lei felt a particular warmth toward Xu Yang. They were both Chinese and with Anta being a renowned Chinese brand, the conversation was all the more comfortable. During their meal, Xu Yang enthusiastically discussed the buzz Tang Lei's recent success had generated in China, even mentioning how many fans had become loyal Anta customers because of him. This touched Tang Lei, further motivating him to make the partnership a success.

Throughout the meeting, Rich Paul carefully went over the key terms in the contract to ensure there were no hidden pitfalls. Tang Lei listened intently, agreeing with most of the terms and suggesting only minor adjustments. Xu Yang was more than accommodating, arranging immediate modifications and promising a swift resolution.

After lunch, Xu Yang presented the revised contract. With Rich Paul double-checking the details, Tang Lei signed his name, officially sealing the historic 5-year, $100 million deal with Anta. The contract stipulated annual payments of $20 million, to be deposited simultaneously each year.

After signing the contract, they shook hands and took commemorative photos. Anta even arranged a press conference that afternoon at Tang Lei's hotel. Demonstrating their commitment, Anta transferred an initial payment of $13 million to Tang Lei's account almost immediately after they left the restaurant.

Since both Tang Lei and Anta are Chinese, the contract's taxes would follow domestic tax laws. After the standard 20% personal income tax, Tang Lei still netted a significant sum. Rich Paul's commission on the deal was 15%. Compared to the high tax rates NBA players face in the U.S., Tang Lei's endorsement income was especially advantageous.

Soon after the deposit, Anta publicly announced their partnership with Tang Lei across all major social media platforms, creating an instant sensation domestically and internationally. In China especially, news of Tang Lei's endorsement quickly topped trending charts, with fans flocking online to congratulate him. Many expressed their excitement with declarations like, "I'm heading out to buy Anta right now!" demonstrating Tang Lei's remarkable influence.

The press conference began at 3 p.m., with Tang Lei arriving punctually as the event's main attraction. Faced with questions from the media, such as "Why did you choose Anta?" and "Will you have a signature shoe?" Tang Lei answered with polished responses he had prepared, handling the questions smoothly. The press conference lasted about an hour and a half, concluding successfully.

Back at the hotel, teammates like Thompson and Curry came by to celebrate with him. Thompson, a fellow Anta endorser, couldn't help but comment, "I guess Chinese people don't lie to each other!" referencing his 10-year, $80 million contract signed in 2017, which seemed modest compared to Tang Lei's 5-year, $100 million deal. Tang Lei laughed, playfully suggesting he could split his contract with Thompson, drawing a round of laughter from everyone.

After the celebrations, Tang Lei logged onto social media and shared Anta's official announcement, adding a caption that read, "For the win, for the future," fulfilling a promotional requirement of his contract.

From this moment on, Tang Lei would no longer be able to wear other brands of sneakers in public settings; he would exclusively wear Anta. Any breaches of this rule would result in hefty fines—a standard stipulation for brand ambassadors, and one that Tang Lei accepted with a professional mindset.

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