The Milwaukee Bucks announced a new contract with their apparel and footwear manufacturer, Walker Industrial Solutions, today.
The deal, which includes a new five-year agreement, is worth an estimated $10 million per year, and is set to be approved by the NBA on Tuesday.
According to a statement from the Bucks, the contract is worth $9.9 million per season, with the $5 million buyout for the 2017-18 season.
Walker Industrial Solutions was founded in 2012 by longtime Milwaukee Bucks owner David Kahn and his son, Paul.
The company’s apparel line, Walker’s, is one of the largest in the country.
Walker’s apparel is sold exclusively at Target stores, as well as other major retailers.
The company employs approximately 3,000 people, according to its website.
The Bucks acquired Walker Industrial Systems from the Kohlberg Kravis Roberts Companies in 2014 for $3.5 million.