A deal expected since April became official Wednesday.
BY JACOB PALMER | DIGITAL NEWS EDITOR
The apparel supplier deal between Nike and the NBA — expected since April — became official Wednesday.
The eight-year partnership will begin in 2017 and is rumored to be worth $1 billion, a 245 percent increase from the league’s deal with Adidas.
“This partnership with NIKE represents a new paradigm in the structure of our global merchandising business,” said NBA Commissioner Adam Silver in a news release. “As our exclusive oncourt apparel provider, NIKE will be instrumental in our collective efforts to grow the game globally while applying the latest in technology to the design of our uniforms and oncourt products.”
Nike has long had marketing partnerships with NBA and WNBA athletes.
“We’re excited to bring the full power of our global reach, innovation and creativity to partner with the NBA and grow the game in a way only NIKE can,” said NIKE, Inc. President & CEO Mark Parker in the same release. “In NIKE, Jordan and Converse we have three of the most connected brands in the world, and look forward to making the global growth of the game a successful strategy for both the NBA and NIKE.”
As part of the deal, Nike will become the first apparel partner of the league to have its logo appear on the uniforms worn by players. Adidas was prohibited from including a logo on the jerseys worn during games.
Nike also will become the apparel provider for the WNBA and NBA D-League, the developmental league. Strong global sales seemingly played a role in the NBA’s decision to select Nike over a competing bid from Under Armour.
(SOURCE: Portland Business Journal)