Report casts doubt on Wiggins' $180 million shoe figure

If Tuesday's report that Andrew Wiggins could be the recipient of a $180 million shoe contract as a rookie struck you as outlandish, you aren't alone.

Multiple analysts have tried to cast doubt on the original report that suggested a bidding war for the Kansas star -- likely to be one-and-done and in the NBA for 2014-15 --  could see him receive $140-$180 million as a rookie endorser.

Those kind of numbers are unheard of, and would nearly double the then-record shoe deal LeBron James signed as a rookie in 2004 ($100 million) and triple that of Kevin Durant in 2007 ($60 million). 

A report from Sole Collector, a top shoe magazine, refutes the initial Wiggins report:

It all apparently stems from this alleged memo from adidas Group CEO Herbert Hainer, addressed blankly to a Wiggins representative, which Sole Collector has exclusively obtained below and has also confirmed to be entirely fake.  

"There is a fraudulent letter that claims to be from our company offering Mr. Wiggins a contract. Any reasonable review of the letter would determine its lack of credibility," an adidas Basketball spokesperson told Sole Collector this morning. "Beyond this, we do not comment on rumors or speculation about potential partnerships."

The undated hoax letter, from a brand CEO to an amateur athlete, would undoubtedly be a major violation during the window in which Wiggins was deciding on which college he would attend. That should of course be red flag #1 as to the letter's lack of authenticity.

Further, Sole points out that there are concerns about Wiggins that make him something less than a slam dunk as a rookie endorser:

There's also the fact that while Wiggins has been clearly pegged as the next big thing, he'll still be expected to dominate this upcoming college season before seeing a massive endorsement offer. 

"There's a huge difference in what a brand would offer him if he goes out and averages 30, or if he just puts up 17 points and 6 rebounds," says a brand source. "There's also still the possibility that Julius Randle could go first in the draft."

As loaded as the 2014 NBA Draft class may be, Wiggins also faces stiff competition for sneaker dollars from current NBA players that have expiring endorsement contracts.

Sole isn't the only outlet skeptical that Wiggins could top James' record deal. 

Nate Jones, a member of Goodwin Sports Management, a top sports management firm with several NBA clients, also has doubts:

Darren Rovell, ESPN's main sports-business reporter, also has doubts:

Consider that the initial report even showed some insider doubt as to whether Wiggins has the personality to sell a lot of shoes, and skepticism is understandable.

It all seems way too premature, since Wiggins can't even negotiate until (if?) he turns pro at the end of the season.