"We are deeply concerned by the disturbing allegations and have suspended Deshaun Watson. We will continue to closely monitor the situation," Nike said in a statement.
Beats by Dre, one of Watson's other national sponsorship deals, has ended its relationship with the quarterback, a source told ESPN's Sarah Barshop.
Watson is facing lawsuits alleging sexual assault and inappropriate behavior from 22 women, with lawyer Tony Buzbee representing all of them.
Ashley Solis, the first massage therapist who filed a suit against the passer, identified herself during a press conference Tuesday. Solis said she suffers from “panic attacks, anxiety, and depression" due to Watson's alleged actions in March 2020.
Lauren Baxley, a second woman who has filed a suit, also spoke out Tuesday. Baxley didn't appear in person, but she wrote a letter addressed to Watson that was read during the press conference.
Watson has denied any wrongdoing. The 25-year-old said in a March statement that he has "never treated any woman with anything other than the utmost respect."
After Tuesday's press conference, Watson's lawyer Rusty Hardin said the claims stem from a failed blackmail attempt. Hardin said Buzbee sought a $100,000 payment on Solis' behalf as a settlement a month prior to the first lawsuit being filed.
The Houston Police Department announced last week that it would start an investigation into Watson. The NFL has opened an investigation into the allegations against the Texans signal-caller as well.
The quarterback has formally requested a trade from the Texans.