Nike has exercised its right to match Under Armour's endorsement offer to Kevin Durant, according to sources.

Nike has countered a proposal of $265 to $285 million and believes it will re-sign Durant to a deal for the next 10 years.

Kevin Durant confirmed his new deal with Nike on Twitter on Sunday night.

The deal between Nike and Durant could hit up to $300 million based on royalties. Nike officials told Durant and his team at Jay Z's Roc Nation Sports on Saturday that it would indeed step up enough to allow the world's largest shoe and apparel company to keep him.

There were strong indications that Durant would go to Under Armour, and the decision has weighed heavily on him, according to sources.

Under Armour wooed Stephen Curry to join them and leave Nike last year, but they have now missed out on Durant and Blake Griffin, who joined the Jordan Brand.