Nike football shoes seen in a store in Krakow, Poland, August 29, 2024.
Jakub Porzycki | Null Photo | Getty Images
nike The league has renewed its partnership with the National Football League for another 10 years after the league briefly opened the bidding process to competitors and negotiated with other companies.
Under the terms of the agreement, Nike will remain the exclusive provider of uniforms and sideline, practice and base layer apparel for all 32 NFL teams through 2038. Nike has been the NFL’s exclusive apparel provider since 2012.
“This renewed partnership is a testament to the strength and success of our collaboration with the NFL,” Elliott Hill, Nike’s newly appointed CEO, said in a news release. “As we embark on this new chapter, we are committed to co-developing cutting-edge solutions that meet the rapidly changing needs of NFL athletes and fans, while furthering the league’s growth and development efforts. ”
As part of the partnership, Nike said it will work to expand football’s global reach, leverage its sports research lab to address lower body injuries and improve shoe 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 an invaluable partner since 2012, and we couldn’t be more excited to have them working with us for many years to come,” NFL Commissioner Roger Goodell said in a statement. “Nike is a strategic partner that helps us grow soccer internationally, support youth soccer and improve player safety, as well as products and services for clubs, players and fans.”
The new partnership comes as Nike looks to rebuild its business and maintain its position as a global leader in sports apparel and footwear.
CNBC reported in October that the NFL was considering other partners for a uniform deal in preparation for its contract with Nike expiring after the 2027 season. The league has temporarily opened the process to other bidders and held talks with several companies interested in competing for the contract, a source previously told CNBC.
The NFL’s decision to make the bidding process public comes as Nike has faced criticism for lagging behind in innovation. Earlier this year, the team failed to unveil uniforms with Major League Baseball, prompting complaints from players and fans that the new uniforms were see-through, ill-fitting and looked “amateurish,” ESPN reported at the time.
Still, the problems weren’t enough to scare the NFL or the National Basketball Association, which renewed its contract with Nike in October.
Nike is scheduled to announce its second quarter results next Thursday.
— Additional reporting by CNBC’s Jessica Golden.
