I think it’s exactly what you said, it’s worth more to keep him than to let him go. If he goes to adidas it’ll generate some serious hype for them and some hype for other shoes that they are currently marketing, let’s say the AE’s. Nike basketball doesn’t have direct competition for a sneaker like that, you add Travis to the portfolio and all of a sudden they’re taking market share from Nike.
Nike would rather run with Travis until he’s completely irrelevant than let him sign to another company because they know he only has a few good years left in him. Once that timer runs out nobody’s gonna want to deal with him and the swoosh wins.