Why Nike’s NFL contract extension is good for sportswear brand
It was announced this week that Nike (NKE) will be extending their contract with the NFL through 2038 to continue exclusively providing all teams in the league their uniforms, sideline gear, and additional apparel. This is great news for the NFL as well as the sportswear brand. This week on Yahoo Finance Sports Report, host Joe Pompliano gets into detail about the contract extension, brand collaboration, and what it could mean for Nike’s future. In addition to providing the aforementioned attire for the team, “Nike made it known that they’re also going to be supporting a variety of the NFL’s developmental initiatives, including high school football, college football, and also flag football,” says Pompliano. Nike is in the midst of a new era of leadership following Elliot Hill being named CEO in October. This extended collaboration and future initiatives to grow both Nike and the NFL present an optimistic outlook for the brand’s future. “[Hill] specifically said that he wanted athletes to be at the center of everything they do. That includes sports and sports leagues.” Only time will tell how financially successful these efforts will be for the sportswear giant. To hear more, check out this week's episode here. Learn more about Nike's big Q2 earnings report here. Yahoo Finance Sports Report with Joe Pompliano, a vodcast brought to you by Yahoo Finance and Yahoo Sports, looks beyond the latest sports business headlines, analyzes all the need-to-know news - the teams, trades, and billion dollar deals - so you and your portfolio will win BIG. Yahoo Finance Sports Report is developed and produced by Lauren Pokedoff.
