Nike, NBA Extend Apparel And Content Partnership For 12 More Years

Nike, Inc. NKE disclosed Monday a 12-year extension of its global partnership with the National Basketball Association (NBA) and the Women’s National Basketball Association (WNBA).

This agreement reinforces Nike’s position as the exclusive provider of on-court uniforms for the NBA, WNBA, and NBA G League.

The global extension includes new content initiatives and a joint membership program that offers fans exclusive products, content, and experiences.

The renewal builds on the eight-year global partnership established in 2015. It positioned Nike as the official on-court outfitter starting with the 2017-18 NBA season.

Nike has been a partner of the NBA since 1992, a marketing partner of the WNBA since its inception in 1997, and a partner of the NBA G League since the 2017-18 season.

WNBA Commissioner Cathy Engelbert praised Nike for being “committed to a shared vision for girls and women’s basketball.”

”Our continued partnership is an opportunity to fortify avenues for development and enhance touchpoints across our dynamic fanbase while globally showcasing the WNBA,” Engelbert added.

This month, Nike reported first-quarter revenue of $11.59 billion, missing analyst estimates of $11.65 billion. EPS of 70 cents, beating analyst estimates of 52 cents.

Investors can gain exposure to the stock via VanEck ETF Trust VanEck Morningstar Wide Moat Value ETF MVAL and NYLI Clean Oceans ETF OCEN.

Price Action: Nike shares are up 0.07% at $81.54 at the last check Tuesday.

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