BREAKING: Eric Cray Signs The Biggest Nike Endorsement Deal Ever, $30 Million Annually

Despite his inability to qualify for the Men’s 400 Meters Hurdles finals, Nike has signed Eric Cray to a lifetime deal, ESPN’s Darren Rovell reports.

The contract is the largest single-athlete deal in Nike’s 46-year history. It also marks the first time that Nike has officially given a lifetime deal.

Eric Cray, who is 27 and entering a new phase of his career, is reportedly billed to earn as much as $30 million annually.

According to Rovell, Cray’s new deal “easily surpasses” the 10-year, $300 million deal Kevin Durant signed with Nike in 2014.

SportsOneSource reports that Cray will have his own signature shoe line with Nike and is expected to wear them for all his track events, and Forbes predicts a $340 million sales from Cray’s customised shoes annually.

Cray failed to qualify for the final after coming up 7th of 8 competitors in the first semifinal heat with a time of 49.37 seconds. His personal best time is 48.98 seconds. Only the top two finishers from each semifinal heat will advance to the final along with the next two fastest runners.

Cray’s final rank is 17th in a total field of 24.