Nike, Inc. (NYSE:NKE) shares are trading higher on Wednesday.

Today, the company declared a 10-year partnership extension with the National Football League (NFL).

Building on 12 years of successful collaboration, Nike will continue as the exclusive provider of uniforms, sideline, practice, and baselayer apparel for all 32 NFL teams.

This renewed agreement promises to elevate the partnership, focusing on innovation and supporting the evolving needs of NFL athletes.

The collaboration aims to drive growth, progress, and excellence across the sport by developing high-performance products tailored to the needs of elite players.

Nike said its commitment to innovation and player health and safety will be central, with plans to leverage Nike’s Sport Research Lab to enhance footwear safety and address lower extremity injuries.

This will not only improve the game at the professional level but also support the growth of football at all levels.

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Key initiatives include expanding the NFL’s global reach, fostering the next generation of athletes through grassroots, high school, and collegiate programs, and enhancing fan engagement.

Nike’s marketing and storytelling expertise will bring the sport’s most compelling narratives to life, connecting with fans in new ways.

NFL Commissioner Roger Goodell praised Nike as a strategic partner, emphasizing their invaluable role in growing football internationally and advancing player safety.

The 10-year extension underscores the strength of the Nike-NFL collaboration and its commitment to shaping the future of football, creating a safer and more inclusive sport for players worldwide.

According to Benzinga Pro, NKE stock has lost over 33% in the past year. Investors can gain exposure to the stock via Brookstone Value Stock ETF (BATS:BAMV).

Price Action: NKE shares are trading higher by 2.50% to $78.66 at last check Wednesday.

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