Nike Set to Renew and Improve USOC Sponsorship

According to SportsBusiness Journal, leading sporting apparel brand Nike is close to finalising an extension of its sponsorship with the United States Olympic Committee (USOC).

The reports suggest that the deal would guarantee Nike the exclusivity to continue to outfit Team USA athletes on the podium through until at least 2016, extending the brand’s position as the official outfitter of Team USA.

Under the terms of the deal, Nike would provide the podium uniforms worn during medal ceremonies at the 2014 Sochi Winter Games and 2016 Rio de Janeiro Summer Olympics. Additionally Nike will have access to U.S. Olympic marks and graphics for use in advertising and marketing and for display on its other brands such as Converse.

Although terms of the deal were not available, sources indicate that it is “a modest increase” over the previous deal, which was valued at close to US$15m over four years and “was a mix of cash and product.”

The renewal  would be first the USOC has completed for the 2013-16 quadrennial and gives the organization some early momentum as it looks to extend partnerships with more than a half-dozen key partners before the 2012 London Games.

Nike has made Team USA-branded hats, shirts and jackets for every Olympics since the 2006 Turin Games and also sponsors 10 U.S. national governing bodies, including USA Basketball, USA Hockey, U.S. Soccer and USA Track & Field.