Suspends sponsorship deal
Nike suspends its sponsorship deal with Peterson due to child abuse allegations. Nike stops sales of Peterson merchandise at its Twin Cities stores. Nike:
Nike in no way condones child abuse or domestic violence of any kind and has shared our concerns with the NFL. We have suspended our contract with Adrian Peterson.
Signs lifetime deal
Nike signs James to an lifetime endorsement deal. The terms are not revealed, but a source says it easily surpasses Kevin Durant’s 10-year, $300 million deal. Nike has made 13 versions of James’ signature shoe, and annual sales in 2015 for his line are estimated to top $400 million. James:
I’m very humble, man. It’s been an unbelievable time for myself and my family, and I’m just grateful that Nike and [Nike founder] Phil Knight and everyone over there just believed in a skinny-old, skinny 18-year-old kid from Akron, Ohio, and I’m happy to be a part of such a great company…It meant a lot to me even when I signed my first deal just to be with Nike, and it means even more that they’ve given me this.
Nike:
We can confirm that we have agreed to a lifetime relationship with LeBron that provides significant value to our business, brand and shareholders. We have already built a strong LeBron business over the past 12 years, and we see the potential for this to continue to grow throughout his playing career and beyond.
$87 million Nike deal
Chelsea sign an $87 sponsorship deal with Nike, which will begin in the summer of 2017 boosting them to second in Europe in terms of sponsorship, behind Manchester United’s £75 million ($108M) per year Adidas deal. Chelsea’s deal with Nike would be the brand’s most expensive, larger than Barcelona’s $40m year contract, which runs through 2018.