Nike football boots are displayed in a store in Krakow, Poland, on August 29, 2024.
Jakub Bolzycki | Noor Photos | Getty Images
Nike The company renewed its 10-year partnership with the National Football League after the league briefly opened its bidding process to competitors and negotiated with other companies.
Under the terms of the agreement, Nike will continue to be the exclusive supplier of uniforms and line, practice and base apparel to all 32 NFL teams through 2038.
“This partnership renewal is a testament to the strength and success of our partnership with the NFL,” said Elliott Hill, Nike’s newly appointed CEO, in a press release. “We are committed to co-creating cutting-edge solutions that meet the rapidly changing needs of NFL players and fans while driving the league’s growth and development plans.”
As part of the partnership, Nike said it will work to expand the game’s global reach and use its sports research labs to address lower-body injuries and improve footwear safety.
The company said it will continue to support high school and college football and help bring the sport’s “most compelling stories to life.”
“Nike has been a valued partner since 2012, and we are excited to work with them for years to come,” NFL Commissioner Roger Goodell said in a statement. “In addition to providing great support for our clubs, players and In addition to providing products and services to our fans, Nike is a strategic partner that will help us grow football internationally, support youth football and make progress in player safety.”
The renewed partnership comes as Nike looks to turn around its business and maintain its position as a global leader in athletic apparel and footwear.
In October, CNBC reported NFL considering other partners Its uniform contract is preparing to expire after the 2027 season with Nike. A source previously told CNBC that the league briefly opened the process to other bidders and held talks with several companies interested in competing for the agreement.
The NFL’s decision to open the bidding process comes as Nike has been criticized for lagging behind on innovation. Earlier this year, its uniform launch with Major League Baseball failed, prompting widespread complaints Players and fans thought the new uniforms were see-through, ill-fitting and looked “amateur”, ESPN reports then.
Still, the issue isn’t enough to scare away the NFL or NBA; Renew contract Collaboration with Nike in October.
Nike is scheduled to report fiscal second-quarter earnings next Thursday.
—Additional reporting by Jessica Golden for CNBC
