Nike shares reach all-time high following NFL deal
By Community | October 13, 2010
The share price of sportswear manufacturer Nike has reached an all-time high of US$83.40 following the announcement of its five-year deal with the National Football League (NFL).
Nike has agreed a deal with the NFL giving them official endorsement of on-field and sideline personnel apparel as well as fan gear rights from 2012 onwards.
The company replaces Adidas-owned Reebok, ampoule which paid US$300 million for a ten-year deal that runs out next season.
President of Nike Brand Charlie Denson said of the deal: “We believe our agreement with the NFL enhances the Nike brand, and provides a significant opportunity to drive growth across the business -both in our performance products and sportswear.”
The NFL also made licensing rights deals with New Era, GIII, VF, Outerstuff and ’47 brand. Reports claim the six deals could be worth a combined US$1 billion.