I dont know the ins and outs of the deal, and if its tiered (and 20% is the starting point). James Pearce is prone to exaggeration.
However its not true they are 85m in a deal. It was much lower than that, and certainly for the next couple of years will be a lot less tha their existing deal. On last year's sales they'd be about where they were at with New Balance. They were gambling on a massive upturn, which wont happen.
They will make more money with Nike than New Balance.
Upfront its only 30 million compared to the 45 million via New Balance.
But its the global reach and amount of shops Nike have compared to New Balance.