Under Armour CEO: 'We got to be smart' in Zion sneaker bidding war
Under Armour is taking a cautious approach to the Zion Williamson sneaker sweepstakes.
CEO Kevin Plank was asked how he plans to approach the Williamson bidding war during an interview with CNBC's "Squawk on the Street" on Friday, and noted his company will have to be "smart" with how it manages its money.
"He's probably one of the best prospects to come out in a very, very long time and he's going to be just a real heartbreaker for a lot of people in the NBA with what he does. But, you know, that remains to be seen," Plank said.
"We've got a terrific stable, we love who we have, but we've said all along is that we're big enough in size and scale these days that we can do just about anything, we just can't do everything. So we got to be smart and thoughtful about how we play moneyball and how we deploy the dollars."
Williamson's deal is expected to be among the richest rookie shoe contracts in NBA history, potentially reaching as much as $100 million.