Nike to take over NBA apparel in 2017 with $1 billion deal
They just did it.
As of the 2017-18 season, Nike will become the NBA's official oncourt apparel supplier, the league announced Wednesday. Nike, who secured an eight-year deal with the NBA, will also outfit the D-League and the WNBA.
It was revealed in March that Adidas had dropped out of the bidding to extend their partnership with the Association, leaving the path clear for Nike and other apparel giants like Under Armour to swoop in.
In the end, the brand most synonymous with the game of basketball emerged victorious, and its iconic Swoosh logo will become the first apparel logo to appear on NBA uniforms.
Nike will pay NBA about $125M a year for official uniform supplier deal, which is a 245% increase from what adidas paid for previous deal.
— Darren Rovell (@darrenrovell) June 10, 2015
"This partnership with Nike represents a new paradigm in the structure of our global merchandising business," NBA commissioner Adam Silver said in a statement to announce the partnership. "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 been the footwear and apparel provider for USA Basketball since 2006, but this new partnership allows the powerful brand to capitalize on its worldwide recognition.
"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," Nike president and CEO Mark Parker said. "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."
Reebok reached a 10-year deal with the NBA in 2001 before Adidas, which owns Reebok, extended the deal for 11 years in 2006.