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Ben Simmons signs with Nike

Projected No. 1 overall NBA draft pick Ben Simmons announced Tuesday that he has signed an endorsement deal with Nike.

Terms were not disclosed, but a source with knowledge of the deal told ESPN that Simmons accepted a smaller deal to go with Nike over adidas.

Simmons, 19, made the announcement on the Twitter feed for Uninterrupted, LeBron James' multimedia site, which counts Turner Sports and Warner Bros as investors.

Simmons is represented by Rich Paul of Klutch Sports Group, which also represents James. The Cleveland Cavaliers star has a lifetime deal with Nike.

The 6-foot-10, Australian-born Simmons entered the 2015-16 college basketball season as the top freshman in the country; he led LSU in scoring (19.2 points per game), rebounds (11.8) and assists (4.8).

The Philadelphia 76ers hold the rights to the first pick of the draft, which will take place June 23.