Nike Signs Merchandising & Marketing Partnership With NBA For $1 Billion; Logo Will Appear On Uniforms

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There are a few more games left in the 2015 NBA Finals. Who do you think will win out of the Golden State Warriors and Cleveland Cavaliers? I am rooting for the Cavs because Kyrie Irving and J.R. Smith are from my home state (New Jersey).

Yesterday Wednesday (June 10), Nike has announced an eight-year global merchandising and marketing partnership with the NBA that will make the brand the official apparel provider for the association and also allow Nike to feature its trademark swoosh on every uniform.

This is the first time ever, in NBA history an apparel partner has negotiated the right to feature its logo on the uniforms.

According to ESPN, “Financial terms were not immediately disclosed, but the deal is¬†worth roughly $1 billion, according to sources,¬†which is approximately a 245 percent annual increase from the previous deal.”

This partnership with Nike represents a new paradigm in the structure of our global merchandising business,” NBA commissioner Adam Silver said in a statement. “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.

Last March, adidias announced that it would not renegotiate its contact once it expires in 2017. The German apparel company (adidas) began an 11-year deal with the NBA in 2006, taking over for Reebok, which is owned by adidas. adidas will focus on endorsing individual players-players.

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 president and 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‘s new NBA uniforms will make their debut in the 2017-2018 season.

Photo Credit: NBA’s Instagram

Source: ESPN

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Donovan

Donovan is the CEO and Editor-In-Chief of www.dmfashionbook.com. For all general inquiries please email don@dmfashionbook.com Donovan has a BA in Journalism & Media Studies from the prestigious Rutgers University. He's currently studying entertainment and fashion law.