The National Basketball Association (NBA) and Nike, Inc.formally announced their eight-year global merchandising and marketing partnership. The said deal will commence on the 2017-18 NBA season and will give Nike the rights to provide oncourt apparel to the league.
Adidas holds the entitlement until their current contract expires in 2017. Last March the German multinational corporation decided that it won't be renewing its 11-year partnership with NBA thus, giving a chance for Nike to take their place.
"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 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."
Nike has already served as the USA Basketball's footwear and exclusive apparel provider since 2006, but with the new agreement, they will have more participation by having the global rights to manufacture authentic jerseys as well as warm-up and shooting shirts for the whole NBA.
“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 on-court products,” NBA Commissioner Adam Silver said.
NIKE will also be the first NBA apparel partner to have their logo appear on NBA Uniforms. The company is also expected to expand their presence in the NBA D-League and WNBA. It is rumored that the Oregon-based firm will be paying about $1 billion dollar to seal the deal.
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